the average median price of crude from 2005-2017 has been in the range of 72-78 usd
the low end of 50 in 2005 the high end of 94 in 2008 and now hovering in the 50 range
again this is the median price in cycles
the oil and gas drillers are going through rolling refinancings of the capital structure with the same vested interests as financial institutions which is to survive through the next cycle
no need to contemplate triggers just a reversion to the median price which is roughly 20 % higher from here and needed for gulf sovereign wealth funds to be the next buyer as central banks roll out of qe
a few suspects
bbg in the next leg
the low end of 50 in 2005 the high end of 94 in 2008 and now hovering in the 50 range
again this is the median price in cycles
the oil and gas drillers are going through rolling refinancings of the capital structure with the same vested interests as financial institutions which is to survive through the next cycle
no need to contemplate triggers just a reversion to the median price which is roughly 20 % higher from here and needed for gulf sovereign wealth funds to be the next buyer as central banks roll out of qe
a few suspects
bbg in the next leg
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