Tortoise Senior Portfolio Manager Rob Thummel in S&P Global

Shut-in, even new wells may be attractive at $30s/b WTI: analysts

  • Some shut-ins could start to return in July
  • As recovery begins, DUCs likely source of output
  • Market rebalancing eyed for Q3-Q4 2020

Houston — NYMEX crude futures have risen above the $30/b level that represents breakeven for many US upstream operators, which could result in some restoration of shut-in wells soon as the economic scourge of the global coronavirus pandemic begins to subside.

Read more here: https://www.spglobal.com/platts/en/market-insights/latest-news/oil/052620-shut-in-even-new-wells-may-be-attractive-at-30sb-wti-analysts

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