Welcome to the it won't last edition of Oil Markets Daily!
Whether it's the senators stepping in to tell President Trump that oil prices are too low or Trump now acknowledging that low oil prices are hurting shale producers, the price war won't last from even the Saudi or Russia angle either.
We did a deep dive into Rosneft's (RNFTF) financials. Rosneft accounts for 40% of Russia's oil production. In 2019, it generated the following figures at $63/bbl Urals:
- Generated ~$21 billion in OCF in 2019.
- Generated $11.16 billion in FCF.
- Spending $12.63 billion in