OPEC Cuts, U.S. E&Ps Drill: Our Oil Price Outlook Remains Unchanged
In a somewhat surprising development, OPEC members have tentatively agreed to a production target of between 32.5 million and 33.3 million barrels per day, representing a reduction of up to 700 mb/d from current production levels of 33.2 mmb/d. Oil prices rallied on the news, but our view for continued low prices of $50/bbl in 2017 (detailed in our Aug. 26 report) remains unchanged, as we do not believe the potential reduction will have a meaningful sustainable impact on oil prices. While the lo...RSP Permian is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and natural gas reserves in the Permian Basin of West Texas. The company designs and manages the well development and supervises operation and maintenance activities on a day-to-day basis. Independent contractors engaged by the company provides all the equipment and personnel associated with these activities. As of Dec 31 2017, the company had total proved reserves of 375.9 million barrels of oil equivalent, consisting of 261.3 million barrels of oil, 295.02 billion cubic feet of natural gas, and 65.4 million barrels of natural gas liquids.
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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