Volatility in the oil markets persisted in August and mid-September as market contagion from Chinese equities spread to various commodity bourses, including oil price benchmarks which sunk to 6 year lows.
Prices were quick to rebound on speculation of an OPEC production cut, triggering a rally that saw ICE Brent prices gain in excess of 11 US dollars (US$) per barrel (b) in 3 days – the largest gain in 3 days since 1990. Prices were further supported by revised US production data for the first half of 2015, which revealed lower than expected production volumes. This issue of market update also takes a glimpse of gas market analysis as well as global insights from KPMG’s Oil & Gas subject matter experts.
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