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Middle East Oil Producers Finally Breaking Even

OPEC Rig

Friday April 21, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Private equity going big in U.S. shale

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- Private equity raised $19.8 billion to put into shale investments in the first quarter of this year, triple the amount raised in the same quarter in 2016, according to Reuters.
- The first quarter of 2017 has been the largest in years for total capital raised from private equity.
- "There is a ton of private capital to invest in the U.S. oil industry," Gerrit Nicholas, co-founder of private equity fund Orion Energy Partners, told Reuters. Orion says it could make money on shale investments even if oil prices drop by another $10 per barrel.
- Big banks and other major lenders are also optimistic about the rebound. The current credit redetermination period is expected to be a generous one for shale drillers, with credit lines expected to be enlarged for many companies.

2. Middle East oil producers to break even

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- The breakeven prices for Middle East and Central Asian oil producers declined a bit over the past three years, but low oil prices blew a hole in many government budgets.
- The recent uptick in oil prices likely means that as a group, government…




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