Oil and Gas Industry Pulse: Q2 2024
Oil and Gas Industry Pulse: Q2 2024
The market remains oversupplied despite a production cut extension by OPEC+.
Oil prices look weak and that likely won’t change anytime soon. Morningstar analysts expect the price per barrel to hit $65-70 before the end of the year. Meanwhile, gas prices have spiked, mainly due to well-timed production cuts by US producers. Attention is now shifting to growing demand coming from new US LNG terminals in 2025 and potential new AI and data centers by 2030.
The latest Oil and Gas Industry Pulse for second-quarter 2024 examines the crude oil, natural gas and natural gas liquids sub-markets, including oil and gas prices, supply and demand, future forecasts, and more.
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What's Inside
What's Inside
- Analysis of OPEC+ production cut and its impact on the oil and gas market
Which factors are driving performance in the energy sector
Which undervalued companies are our analysts’ top picks in the oil and gas industry