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Oil Market Snapshot – March 2021 Brent Volatile On OPEC+ Surprise, Euro Lockdowns, and One Stuck Ship
Rising sharply after the March OPEC+ meeting's surprise result, Brent is now trading c. $63/bbl, having flirted with $60/bbl on fresh European lockd...
Oil Market Snapshot – February 2021 Brent Adds c. $10/bbl In February As Inventories Fall And Texas Cold Snap Hits Permian
- Brent started February at $56.30/bbl and ends it above $65/bbl, with inventories continuing to draw and the Texan cold snap temporarily hitting Permian product...
Oil Market Snapshot – January 2021 Brent Solid At $55/bbl As Saudi Surprise Outweighs Fresh Lockdowns
- Brent has held at $55/bbl for most of January despite a softening of the 2021 demand picture, as Saudi Arabia announced a surprise 1 million b/d "voluntary" pr...
Oil Market Snapshot – December 2020 Brent Firm at $50/bbl Despite New COVID Strain in UK
- Brent has held above $50/bbl, up more than $7/bbl against November's average, as markets anticipate mass vaccinations despite a worsening global COVID-19 casel...
Oil Market Snapshot – November 2020 Brent Rebounds in November as Vaccine News Dominates
- Brent has hit $48bbl this week and averaged $42.42/bbl in November so far, up c. $2.23/bbl against October, as positive vaccine news fuels optimism for future ...
Oil Market Snapshot – October 2020 Brent Dips Below $40/bbl as October Ends, With France and Germany Locked Down
- Brent has averaged $40.48/bbl in October so far, down c. $1.66/bbl against September, as a second wave of COVID-19 infections across the OECD weighs on demand<...
Oil Market Snapshot – September 2020 Brent Falls to c. $42/bbl in September As COVID Resurgence in Europe Dents Demand Hopes
- Brent has averaged $42.14/bbl in September, down c. $3/bbl against August, with a second wave of infections rising in Europe raising concerns over demand as co...
Shale Monitor – September 2020 Red, Dead, No Redemption: 2Q20 Revenue Collapses With Fresh Capital Unlikely
- 2Q20 LTO revenues fell faster than pricing as development activity collapsed and production was shut-in
- For our coverage universe, net income was up...
Oil Market Snapshot – August 2020 Brent Rises to $45/bbl in August, But Demand Concerns Continue to Threaten
- Brent has traded around $45/bbl in August, after four consecutive weekly US crude inventory draws, though stocks remain elevated
- Still, global COVID...
Oil Market Snapshot – July 2020 Brent Hits $44/bbl in July as OPEC+ Agrees Compensation
- Brent rose to c. $44/bbl in July, with OPEC+ applying compensatory cuts to the second phase of its deal and the EU agreeing a €750 billion stimulus package