New York , Jan 4 : A newly released report by Moody’s on global oil and gas has outlined credit analysts’ themes for the industry heading into 2019, even as it faces risks from oversupply. As per Moody’s, the market expectations for continued strong oil demand growth have remained in place, despite concerns about weaker global economic growth, tariffs, and a strong US dollar. While the recent announcement that OPEC and Russia will cut production helps alleviate concerns about oversupply, the pivotal questions in the coming year are whether OPEC and Russia will maintain their production discipline and what might happen in June when the current agreement expires, Moody’s report stated. "Market expectations for continued strong oil demand growth remain in place, despite concerns about slowing demand growth as a result of weaker economic growth, the impact of tariffs and a strong US dollar," said Steve Wood, Moody’s Managing Director for Oil and Gas. "Very high Saudi and Russian production, in particular, has heightened supply volatility, so whether OPEC and Russia maintain production discipline and renew agreements to limit output are key concerns going into the new year," he added. Moody’s expects the medium-term price band for West Texas […]
