Industry Trend Analysis - Global O&G Sector Progressing To A Stable Recovery - AUG 2017

BMI View: A stabilisation of oil prices over much of H117 has proved vital to the health of the oil sector, though extended OPEC intervention and its impact on fundamentals over H217, will be key to a sustainable recovery. Risk appetite in exploration and US onshore drilling is returning, though major project FIDs remain sparse.

Key Global Market Trends

  • The extension to the OPEC/non-OPEC oil production cut to Q118 has done little to return confidence to the market. We expect solid fundamental data, especially through Q317, will offer price support.

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