At a time when sub-$ 70


oil has driven mar­ket con­di­tions for more than a year, are in­dus­try play­ers now see­ing the new eco­nom­ics as a ba­sis for medium- term strate­gies rather than a tem­po­rary blip? A re­cent sur­vey by Lloyd’s Reg­is­ter En­ergy con­firmed this, with 67% of re­spon­dents pre­dict­ing oil prices of be­tween $ 50 and $ 70 pb in 2016, and many an­tic­i­pat­ing only mod­er­ate rises in 2017.

How­ever, fol­low­ing OPEC’s re­cent an­nounce­ment is this think­ing cor­rect? Few be­lieve a re­turn to $ 100+ pb is on the cards in the fore­see­able fu­ture. But oil and gas com­pa­nies have other chal­lenges too...

Duco de Haan, com­mer­cial de­vel­op­ment di­rec­tor, Lloyds Reg­is­ter En­ergy

Newspapers in English

Newspapers from International

© PressReader. All rights reserved.