Snippets27 May 2016 13:06
From various sites re. Crude Oil Prices....US prod down 9% over last year, around 390 billion worth of projects shelved, crude price of around 75 USD needed to safely finance new projects/fracking, Crude at 60-65 would see many countries still struggle and not kick off much higher prod.....reduced crude output in May from Can, Libya, Venezuela, Nigeria 3.4 mill Bbls. Short term crude to bounce between 40-50 before steadying above the 50. India increases fuel use, Iran prod now 2.2 mill Bbls day, OPEC meet June 2nd no cuts likely outcome, Shell divi looks ok 2016. Time Line Planned Staff and Contractor job reductions decreasing, sale of further assets in 2016 planned, Shares price below 17 a good investment long term. Shell better positioned than most for recovery.