07
Jul

Wrap – Week Ended 07/05/19

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OPEC+ did what was expected of it by agreeing to a 9 month extension of current output levels. Pricing action in the immediate wake of the deal is noise in our view and similar to the December meeting noise.  Please additional comments in Monday's post. 

Oil prices through mid year have averaged $57.37, nearly in line with our $60 price deck for 2019 issued at the end of 2017. We see no reason to alter our forecast at this time as 2H19 refining should continue to advance after a slower than expected 2Q19. 

We made two trades last week (one position addition and one new position).  Please see the blotter for details. 

Questions and comments under The Wrap will be addressed in the Monday post. 

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One Response to “Wrap – Week Ended 07/05/19”

  1. 1
    guided Jeep tours Says:

    guided Jeep tours

    Wrap – Week Ended 07/05/19 | Zman's Energy Brain ~ oil, gas, stocks, etc…

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