OPEC Extends Output Cuts by Nine Months, but Market Reckoning Still Coming in 2018
As widely telegraphed before the May 25 meeting, OPEC and certain other countries have agreed to extend their production cuts, originally set to expire at the end of June, by nine months. There is no change to the magnitude of the cuts (1.8 million barrels per day, including 0.6 mmb/d from non-OPEC nations, such as Russia, Mexico, and Kazakhstan).The new agreement makes sense, given that the main objective of the cuts, bringing global inventories within the five-year average, remains incomplet...
Laredo Petroleum is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and midstream and marketing services, primarily in the Permian Basin of West Texas. The Permian Basin is comprised of several distinct geological provinces, including the Midland Basin to the east, the Delaware Basin to the west and the Central Platform in the middle. The company's primary development and production fairway is located on the east side of the Midland Basin, 35 miles east of Midland, TX. The company's acreage is contiguous in the neighboring Texas counties of Howard, Glasscock, Reagan, Sterling and Irion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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