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Apr 1 2020, 11:25 IST/BST
Ratings and price correct at time of issue
Company | Rating | Date | Previous Rating | Date | Closing Price |
---|---|---|---|---|---|
Aminex | OUTPERFORM | 05/08/16 | Neutral | 28/03/13 | 0.5p |
Cairn Energy plc | OUTPERFORM | 05/12/16 | Neutral | 24/03/14 | 77.4p |
Lansdowne Oil & Gas | OUTPERFORM | 03/05/12 | N/A | N/A | 0.3p |
Petrel | - | 01/01/00 | N/A | N/A | 7.0p |
Petroneft | OUTPERFORM | 18/12/09 | Neutral | 30/06/09 | 0.5p |
Premier Oil | NEUTRAL | 20/06/14 | Outperform | 03/04/12 | 17.2p |
Barryroe Offshore Energy | OUTPERFORM | 09/06/11 | N/A | N/A | 1.8p |
Tullow Oil | OUTPERFORM | 15/01/20 | Under Review | 09/12/19 | 10.7p |
Make no mistake about it - the combination of COVID-19-related demand collapse and OPEC’s fight for market share is nothing but bad news for the oil price and industry. Current oil prices are ruinous for all participants on the production side of the industry and bear little relationship to marginal costs of production. However, as is the way with commodities, price excesses sow the seeds for a reversal. This time will be no different, with a recovery in demand catalysed by the unwinding of the COVID-19 impact. We think OPEC will follow and again try to stabilise the market. Consumers should take the opportunity to benefit through locking in pricing.
Apr 1 2020, 11:25 IST/BST