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KIPCO Asset Management Company K.S.C- Sunday, March 17, 2019

A wave of newsflow supporting oil prices pushed crude benchmarks to a four month high during midMarch-19. The consistent gains came on the back of continued supply cuts by OPEC+ countries in addition to an unexpected drop in oil inventories in the US that had recently reached a 17-month high level. In addition, prices also got support from a recent drop in US crude production estimates, albeit marginally by 100 tb/d w-o-w, to 12 mb/d for the week ended 8-March-19, as per IEA data. This was the first time in six months where US production forecast was lowered by the agency in its latest Short Term Energy Outlook. According to reports, smaller drillers are facing difficulties in adding capex to keep pumping oil while bigger players continue unabated. Furthermore, Canada faces a peculiar situation of delay in pipeline construction in addition to production curbs by provincial governments.

Country : Kuwait Report Type : Special Edition Report Date : Sunday, March 17, 2019 Provided by : KIPCO Asset Management Company K.S.C Report Size : 529 View research

Country :

Kuwait

Report Type :

Special Edition

Report Date :

Sunday, March 17, 2019

Provided by :

KIPCO Asset Management Company K.S.C

Report Size :

529

View research

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