bullish
Global O&G Firms' Credit Quality Improves on Tighter Oil Markets
230 Views09 Apr 2024 14:05
SUMMARY
- Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date.
- Robust demand due to recovery in economic activity across major markets has been a steady tailwind to oil prices despite the prevalent geo-political catalysts that have spurred across global markets.
- Globally listed oil and gas producers and service providers have therefore seen a marginal improvement in their aggregate credit risk profiles, with their Criat Credit Cycle Index (CCCI) dropping by close to 2bps over the same period.
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