Oil & Gas Sector - Oil : The New Normal

StockFanatic

Publish date: Mon, 01 Dec 2014, 12:19 PM

Figure 2 : Breakeven Brent Oil Prices

OPEC decides not to cut production. Selected OPEC members and industry experts express a likely floor level of US$60-70/bbl for Brent crude oil price and to have stability at US$80+/bbl in the long term. We believe the next 6-9 months will be a period of stock differentiation. As an O&G producing region, ASEAN remains competitive given its relatively low cost breakeven, resilient NOC spending and protected cabotage markets. Our top BUYs are SCI, Ezion, Pacific Radiance, Triyards, Dialog, Deleum, Barakah and Logindo.

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lotsofmoney

The downside now is USD 30 PB. The Saudi will feel the pinch even though their production cost is less than 1 USD. The Royal Family cost of living will also be affected. For Russia and IS, no bottom price because their survivor depends on oil income. Any money is better than no money.

2014-12-01 14:17

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