You do have financials and Energy Taking up the slack to some degree. Inconclusive, indecisive action. Were 4 below the highs the treasury yields remain in fo focus. We did break out on tenyear yields above 4. 25 taking us back to 2008 the 30s are at 4. 40. Its a consistent story were pricing for a better growth economy, high real inflation adjustment yields. We can bet the economy can handle it or not plus a supply demand issue for debt. Look, the latest data is supportive of those higher yields we got jobless claims below 240. Psychologically important. Theres the yellow bankruptcy factoring in so far no evidence of real mass l layoffs in this economy. We have philly fed which was sharply higher and the first positive read since last august and prices paid inside of that, which a lot of people look at, looking for inflation cues was a little higher. You add that to the other data weve gotten this week its not earthshaking data. Its industrial productions, housing starts, retail sales
High impact exploration has seen average discovery sizes decline year on year from nearly 500mmboe in 2019 to 220mmboe in 2023 whilst overall finding costs have gone up by a factor of six in the same period.
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
The latest analysis from Westwood Global Energy Group reveals that despite favourable oil prices in 2022, high impact exploration drilling in 2023 declined by 21%, due to energy transition strategies, industry consolidation, rising well costs and reduced activity in former hotspots.