We believe the impact on balances and prices ultimately will depend on five key variables.
As investors eye the outcome of OPEC’s 30 November meeting, we’re offering a look at the thinking behind our 2017 oil price outlook.
PIMCO portfolio manager Greg Sharenow, who predicted the bottom of the oil market in January, discusses why oil prices may continue to rise after OPEC’s meeting on June 2.
Could there be an oil spike due to unrest in countries like Nigeria, Venezuela and Iraq?
Why the lack of an agreement among oil ministers likely won’t affect prices in the next 2 years, but could pose a long-term risk.
Data indicates a clear trend of accelerating declines in U.S. oil production
The bearish narrative that pushed oil prices below $30 a barrel on Friday is compelling, but three anomalies in the data suggest the outlook may be much less bleak than meets the eye.
Nearly 42 million Americans will make road trips of 50 miles or more to celebrate Thanksgiving this year, an increase of 0.7% from last year, AAA says. And more of them will be driving bigger, less fuel-efficient vehicles and pumping premium gasoline.
Although many commodities have had a wild ride in in recent weeks, Brent crude oil has been remarkably stable over the past six weeks. We expect firmer prices ahead, with Brent rising about 20% from today’s level to about $60/barrel in 2016.
While the (debatable) resilience of U.S. oil production has attracted a lot of attention, we’ve noticed a much more interesting story: the lack of growth, or even sequential decline, in U.S. natural gas output.