Market Update: Oil & Gas – April 2015 | KPMG | ID

Market Update: Oil & Gas – April 2015

Market Update: Oil & Gas – April 2015

Global crude benchmarks drifted south in March and early April as news of a possible Iranian nuclear deal began to filter down to trading floors.

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An agreement between Iran and the P5+1 group (China, France, Russia, UK, US and Germany) is likely to see Iranian production sanctions lifted – potentially adding more volume to an already over-supplied market. Bearish sentiment was further compounded by reports of further builds to US crude inventories.

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