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OILX - U.S. Oil Production Could Drop By A Quarter
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Note: This article was first published to HFI Research subscribers last week.
With OPEC+ agreeing to not roll over the deal in last week's meeting and Saudi Aramco's (ARMCO) OSP pricing announced), the market is going to assume the worst and believe that OPEC+ will be going back to a market share or price war. Now with WTI trading at $41/bbl, we wanted to do a sensitivity analysis of just how fast and hard US oil production can fall in 2020.
Since hitting an all-time high in November 2019 of ~12.86 mb/d, we calculate that