Texas and across the nation appears to be making a comeback.
A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.”
“Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions turn positive,” the report continued
“Expectations for U.S. oil production growth have also been tempered, as the U.S. E&P industry faces execution challenges from tighter services markets and also feels investor pressure for improved capital discipline.
“OPEC remains committed to production cuts, with steadily improving (and high) compliance. Simultaneously, global oil demand growth continues to surprise to the upside, and is on trend to continue to significantly exceed the historical average into 2018,” the report stated.
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