Estimating The Impact Of Different Oil Price Scenarios On Large U.S. Independents

We believe that oil prices cannot sustain above the $100 per barrel mark for long under normal geopolitical conditions, unless the Organization of Petroleum Exporting Countries decides to sacrifice some of its market share for better prices. This is because oil production in the U.S. can quickly start growing again at an annual rate of around 1 million barrels per day if oil prices sustain above the $100 mark, and that would once again create an oversupply scenario, which will weigh on benchmark...