Optimism Returns to Oil Markets ...Middle East

It appears that optimism is finally returning to oil markets due to a promising U.S. jobs report and signs that the China-U.S. trade war may soon start thawing.- According to industry consultant Wood Mackenzie, the US Gulf of America (also known as the Gulf of Mexico before President Trump) will become the US’ main driver of oil supply growth this year.- Whilst shale drillers are cutting back on exploration and the drilling of new wells as breakevens are close to the Permian’s $62-63 per barrel breakevens, the GoA enjoys a much healthier…

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