Sentences with phrase «oil price recovery»

«According to the most recent assessment, the steady oil price recovery since summer 2017 and renewed interest in growth opportunities has led to oil majors catching up in terms of exploration activity this year, both in the shale industry and offshore deep water,» OPEC said.

As the industry retreats deeper into preservation mode, we think the consequent underinvestment in production bodes well for an eventual oil price recovery.

With increased netbacks, economic viability thresholds will be lower and exceeded sooner if there is a global oil price recovery.

The prospects for an oil price recovery are still unclear, van Beurden said, despite attempts by OPEC and other producers to agree a deal to limit output and reduce the global glut which has pushed oil prices down by 50 % since June 2014.

Investment bank Jefferies called current prices unsustainable and said production declines across most of the important non-OPEC producers is likely to set the stage for an oil price recovery in the second half of this year.

The oil price recovery to more than $ US60 a barrel appears to be accelerating one of the biggest corporate shuffles ever by a Western Australian company, with Seven Group getting ready to consolidate ownership of the oilfields of South Australia.

The oil price recovery that analysts and investors were expecting early this year have failed to materialize, battering the energy sector stocks in 2017.

Early into this year, analysts and investors were way more optimistic about the oil price recovery, but as global inventories continued to stay high and OPEC lost its market charm with the cuts and compliance, prices started dropping again, and WTI has traded mostly below US$ 50 — and frequently below US$ 45 — since early March.

The International Energy Agency that previously warned of lower for longer oil prices and warned last year that the oil price recovery was threatened by the possibility of weak demand now has changed its tune and is now saying that it is «mission accomplished» for OPEC as oil stocks shrink at a record pace.

Canada's oil and gas industry continues to face challenges relating to insufficient pipeline capacity despite the oil price recovery in the United States and globally.