Commodity strategy analysts with RBC Capital Markets outline the factors behind their new ‘structurally bullish’ oil market outlook.
As production from the Permian Basin continues to rise, taking exports to new highs, takeaway capacity can’t seem to catch up.
Ethane clears 30-cent hurdle for the first time in over four years but rest of NGL remain static.
As U.S. exports continue to soar, the capacity shortfall will force production to flatline.
Hypothetical ‘barrel’ sets another high for the year but most NGL prices scuffle.
Isobutane led the charge with an 18% hike, but ethane continued to struggle.
Conway’s price crashes while Mont Belvieu’s outlook looks shaky with few export options.
An imploding OPEC member, Venezuela, is barely noticed among the geopolitical stresses on the oil and gas markets.