Big Oil & oil price prospects for 2015 - JP Morgan ponders..
Share price reactions in 2008 and 2014 for both key Integrated and services names are similar, however, JPM cautions that the subsequent V-shaped oil price recovery in 2009 may not repeat in 2015 given a dysfunctional OPEC and US shale oil.
JPM has looked back to the mid-1980s and shows similarities between the oil market dynamics then and now. Specifically, OPEC market share is being eroded and OPEC appears, for now, unwilling to curtail…
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