Sentences with phrase «recovery in crude prices»
Energy stocks seem like an easy way to play the recovery in crude prices, but the disappointing performance of most energy funds tells a different story.
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The deal, when announced last autumn, was predicated on a recovery in the oil price to $ 60 per barrel by 2019, an increase that now seems less likely with a glut of crude still circling the globe and keeping prices below $ 50.
Last year, funds that bet on an oil - price recovery were hit as crude in June fell to $ 42.05, the low for the year.
BP beat analyst expectations on Tuesday, as higher crude prices and rising production levels helped to fast - track a recovery in one of Europe's largest oil and gas companies.
Higher oil prices and China's state firms increasing spending are expected to lead to crude production recovery in the second half, according to the analyst.
The company attributed the decline to weak global economic recovery, slow growth in China and low international crude oil prices.
Crude oil prices in 2018 are projected to stay around US$ 50.3 per barrel reflecting the higher - than - expected US shale production and production recoveries in Libya and Nigeria.
He told Council that the PMS open market price is continuously shaped by crude oil price volatility in the international market with the attendant cost under - recoveries due to differential between actual supply and distribution.
It is possible that some of the captured CO2 could be used for enhanced oil recovery, he said, since CO2 grabs a price in that process because of its value in pumping out more crude.