The Permian Strikes Back?
Despite recent cold weather in Texas disrupting oil and gas production, a comeback in US shale may already be on the horizon given the increasingly bullish fundamentals of the global oil market. Goldman Sachs have revised up their 2021 oil forecasts to around $72/bbl WTI and $75/bbl Brent by Q3. This is significantly higher than the EIA short term estimates of $49/bbl and $52/bbl respectively for the same period. For the time being both grades are trading firmly above $60/bbl.
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2021 02 26 The Permian Strikes Back |
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