recent uptick in prices has seen a return in hedging activity - data from
E&P companies which account for around 75% of total US shale oil production
shows a steep rise in hedges in the last few months.
narrative still implies a tighter oil market
balance between OPEC’s commitment to its production cut deal and US oil
production continues to shape the supply
oil production moderated the impact of the current deal - nearly 55% of the cut
was filled by US oil supply.
- a key driver for the rebalancing path
dynamics have been particularly strong this year amid a robust global economic
economic growth has been supported by the developed nations, a reflection of
manufacturing activity recovery, positive consumption, and confidence hitting
demand has been very resilient this year on the back of upbeat economy.
Increasing gasoline and jet fuel demand alongside rising LPG and fuel oil
demand, accounted for the bulk of these gains.
add, India’s oil demand rebounded as data reveals that India’s economic growth
is picking up after the disappointing Q2 17 performance.
global oil demand has increased by 3% (+2.7mbpd) from the start of the year to