VIST : POSITION TRADECrude oil prices gained slightly on Wednesday, extending multi-year highs supported by an improved demand outlook as accelerating COVID-19 vaccinations helped lift travel restrictions in Europe and the US. On the supply side, OPEC+ agreed to keep to their plan to gradually ease supply curbs through July, signalling the ongoing strengthening of market fundamentals. Also, expectations for more Iranian crude exports faded after Iran's deputy foreign minister Abbas Araghchi said that Tehran's nuclear talks are unlikely to conclude before Iran's presidential elections. Meantime, data from the American Petroleum Institute showed that stocks of crude oil in the US plunged by 8.537 million barrels in the week ended June 11th of 2021, the biggest draw since the week ended on September 11th, 2020. On Tuesday, Brent crude added $1.24 or 1.67% to $74.46 to its highest levels since April 2019, while WTI crude rose $1.24, or 1.8%, to settle at $72.12 a barrel, its highest since October 2018.
Source : Trading Economics, 16-Jun-2021
tradingeconomics.com
The world faces a potential global oil supply shortage over the coming decade as the pullback from fossil fuels project by parts of the industry creates a gap with expected demand, Russell Hardy, CEO of commodity trader Vitol, said June 15.
Source : S&P Global Platts, 15-Jun-2021
www.spglobal.com
Vista Oil & Gas, S.A.B. de C.V., through its subsidiaries, engages in the exploration and production of oil and gas in Latin America. The company’s principal assets located in Vaca Muerta with approximately 134,000 acres. It also owns producing assets in Argentina and Mexico. As of December 31, 2020, it had proved reserves of 128.1 MMBOE. The company was incorporated in 2017 and is based in Mexico City, Mexico.
Source : Seeking Alpha
seekingalpha.com
