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Industry analysts at the S&P Global Platts Asia Pacific conference expect US shale growth and the expiry of OPEC cuts in March 2018 to push 2018 supply above demand and depress prices. Brent closed at $59.02 on September 25 and WTI at $52.22.
Shale drillers are hedging again at higher prices.
Expectations of a 2018 oversupply cap the medium-term energy rally, which affects long-run biofuel and input cost planning for feed buyers.
oilprice.comTsvetana ParaskovaSep 27, 2017After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
