The collective view this morning seems to be that,following statements made by the UAE Economy Minister yesterday, there is a "growing chorus of oil watchers" with a view that" $60 is possible by the end of the year".Brent and WTI hover just under $50 after a slightly weaker patch, which is commensurate with whatever bullish comments the UAE minister said.
We had 25% of production hedged in the year to 30/6-the first hedge contract we undertake in the year starting 1/7 would likely be a fraction of this.
Looking good.Lets hope the shalers,broke and not-yet-broke ,cant spoil the party just about every body else seems to want to have.
HZN Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
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