While OPEC and its allies successfully reached a deal to extend its production cut quotas into 2020, the oil price response was markedly disappointing, leaving the market to wonder if oil prices will ever recover much beyond the levels that they are today.
One thing that may have the power to lift oil prices out of the low $60s, however, is an end to the US/China trade war, which has helped to dampen oil demand growth prospects. In fact, one expert is calling the trade talks between the US and China the decisive factor in the oil price outlook this year, according to CNBC, who spoke on Tuesday with oil market expert Amrita Sen.
Reabold Resources plc (LON:RBD) is an investor in near-term, high growth upstream oil & gas projects where an injection of its capital facilitates near-term activity. Reabold’s assets include West Newton in the UK and Monroe Swell, West Brentwood & Grizzly Island, in California, US.