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UBN - Down But Not Out: What's Next For U.S. Energy Production?
E-TRACS USB Bloomberg Commodity Index Exchange Traded Notes UBS Bloomberg CMCI Energy ETN
US oil production likely saw its relative low in May, but current prices are not high enough to incentivize an acceleration in upstream activity, though the rig count appears to have stabilized.
Oil production is expected to remain largely steady throughout the rest of 2020 and most of next year before trending upward later in 2021.
Midstream is well-positioned to withstand the pressured commodity price environment relative to its energy peers, as its fee-based business model and contract protections support greater cash flow stability.