WP Oil Report- Optimism Returns to Oil Services

January 24, 2017

Executive Summary:

Oil Prices have crossed over from trading in the $40s and into the $50s since OPEC announced cuts on November 30. Adding confidence that the cuts will hold is Saudi Arabia’s willingness to undertake additional cuts in February. Also, reflecting the boost in optimism has been a flurry of investment activity among the oil majors and the rally in equities of oil service companies. It appears that the rally is being driven by the proposed OPEC and non-OPEC cuts.

Download Full PDF Report