- Crude prices finding support on increased inventory drawdowns
- A Dutch court ruling could accelerate industry change
This time last year, you could have bought a barrel of West Texas Intermediate (WTI) for around $40 (£28.90). That same barrel would now cost you in the region of $72. With large drawdowns on US inventories taking place, the immediate prospects for crude prices are positive.
We shouldn’t be surprised, then, that speculation over deal-making in the oil and gas space is intensifying. Reuters recently reported that Royal Dutch Shell (RDSB) was examining a possible sale of all or part of its Permian Basin assets in the US. Sources told the news agency that proceeds from a full sale could be more than $10bn.