Oil Market Snapshot - May 2015
Brent has continued its steady rise and currently stands at $63.19/bbl on 29th May, up over 40% from its lowest point in January. Global demand has picked up in response to low oil prices, in particular in the US and OECD countries. The US LTO industry has proven to be more resilient than generally expected due to a $74 billion capital injection from equity issues and bank and shadow banking credit in 1Q 2015. We do not expect OPEC to cut production at their meeting in June.Oil Market Snapshot - April 2015
Brent rallied to $63.98 on 29th April on signs that US LTO production is slowing and the OECD demand is recovering more quickly; We forecast a Brent average of $57.56/bbl for 2015 (-$1.90 compared to March), while 2016 is cut to $75.05/bbl (-$0.30) on continued OPEC production this year.LNG Market Snapshot - April 2015
The global active LNGC fleet grew to 401 vessels, up by two m-o-m; 32 more vessels scheduled for delivery in 2015; General vessel oversupply maintains pressure on spot charter rates ($24- 30,000/day, down by up to 14% m-o-m).
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