Energy Commentary | December 2019

Energy Commentary | December 2019

Highlights: OPEC’s Dec 6th decision to deepen its existing production quota from 1.2 to 1.7 million barrels per day (mmbls/d) combined with moderating production growth here in the U.S. should put a floor on crude oil pricing in 2020 even as the market continues to...
Oil Tightness Obscured

Oil Tightness Obscured

We believe supply-driven tightness in crude has been masked by investor macro concerns relating to demand, as well as the recent weather-impacted rise in US oil inventories. In our view, the magnitude of these supply factors more than offsets potential demand slippage...
Consolidation: The Time is Now

Consolidation: The Time is Now

Today, Chevron (NYSE: CVX) announced they plan to acquire Anadarko Petroleum (NYSE: APC). We saw many corporate deals struck last year (Concho/RSP Permian, Diamondback/Energen, Encana/Newfield, etc.) and have expected sector consolidation to continue in 2019 as oil...