Thursday, March 5, 2015
Prospects for oil and gas in the second quarter
Elevated levels of supply will keep oil and natural gas prices weak. The recent uptick in the price of Brent crude is not reflected in the oversupplied US market, so the slowdown in US crude output growth, centred on shale, should continue into the second quarter. Brent's recent price strength, in part, reflects brightening prospects for the global economy, but more evidence is needed to push prices higher.