Seismic reflections: Risk off, again

In our Oil & Gas Macro Outlook note last month we concluded a softening near-term sector outlook afflicted by easing supply-side tensions and a suppressed demand-side recovery. And so it has to date proved. Add to the mix the broader market malaise since the beginning of the month and there is much for the oils sector to ponder. From our Sydney and Wellington offices down under we are seeing much heat come out of the Australian market, the teas leaves from which provide much food for thought.

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