An extension is virtually taken for granted and has been for...

An extension is virtually taken for granted and has been for several weeks.There is more risk to the downside than to the upside,and has been for months.If Opec extends the cuts for,say, only 6 months the POO will head at least slightly South (IMO).Best not to rely on higher POO to rally our SP.
The best OilPrice.com article in recent times ,and one that has a very large influence on us, was the one on LNG prices and prospects . NG and L NG prices in North America are crap and with shalers invariably producing a lot more gas than conventional drillers and a distinct lack of storage for NG they are talking of even flaming (burning off) gas from some of the shale wells.
Conversely the Asian gas scene is absolutely brilliant.
China has virtually declared they cant get their pollution problem under control by other means and has nominated LNG as their saviour.They are driving their fellow Asians to follow them,as they grab all the LNG,and future LNG,they can score.
Thus Asian LNG prices will rise,as US prices flounder.
PNG-arguably the best place in the world to be if you have good gas fields.
Asia- probably best the area to try to sell your gas into.
An LNG plant that comes ready-made in a shipyard with a guaranteed "name-plate" output,clients "close "to home, gas delivered to floating receiving stations (built for half the price of wharf-based stations and located in shallow drop-off points,not deep-water harbours) etc.etc.
Brent might be retiring but his dream is slowly but oh so quickly( in LNG manufacturing terms) coming to fruition.
Biggest worry is how we deal with Osaka and China and keep the peace with both.
HZN ,tiddler though it is, can punch so far above its weight in the near-term future world of LNG it just aint funny.And the engine room (Beibu and Maari) throbbing away pumping the funds for the LNG dept. to do what it will with the funds they reliably generate.