Crude-Market Fundamentals Continue to Tighten, but the Recovery Still Has a Ways to Go
Crude markets have tightened a good deal in recent months, as strong oil demand growth and supply issues have pulled forward the industry recovery by about a year compared with the outlook we published in April. Even so, 2017 fundamentals are far from robust from an oil price perspective, and don't appear supportive of prices moving much above the $50 per barrel threshold. Another large uptick in rig additions in the U.S. could be enough to eliminate near-term inventory draws altogether, which i...National Fuel Gas is a holding company. Through its subsidiaries, the company is engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The company's segments are: Exploration and Production, which is engaged in the exploration for, and the development and production of, natural gas and oil reserves in California and in the Appalachian region; Pipeline and Storage, which provides interstate natural gas transportation and storage services, as well as transports and stores natural gas; Gathering, which builds, owns and operates natural gas processing and pipeline gathering facilities; and Utility, which provides natural gas utility services.
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