In the near term we expect the OPEC +production cuts agreed in december 2019 to limit investment and activity – especially Middle East and Russia – during first half calendar 2020.
Schlumberger (SLB, US$38.35/sh) Q419 earnings release, 2020-01-17
Stockprice
SEC Edgar filings
Industry SIC: 1389 – Oil and Gas field services
Opec’s january 15th monthly report makes the following projections:
| Country | 2020 growth % | 1999 growth % |
| US | 1.9 | 2.3 |
| Eurozone | 1.0 | 1.2 |
| Japan | 0.7 | 1.1 |
| China | 5.9 | 6.3 |
| India | 6.4 | 5.5 |
| Brazil | 2.0 | 1.0 |
| Russia | 1.5 | 1.1 |
| World | 3.1 | 3.0 |
Source: Jan 15th oil report published by Opec, accessed 2020-01-17
| World | 2020 mb/d | 2019 mb/d |
| demand | 100.98 | 99.77 |
| supply* | 101.37 | 98.99 |
Note: * supply projected based on unchanged opec supply from 2019 of 29.8 million barrels/day. Other figures taken from Monthly report Opec.
Report can be downloaded from Opec’s website.
Source: US Energy Information Administration, accessed 2020-01-09
Ending stock level 2020-01-03 : 251.6 mill barrels
