Fitch Ratings has cut the oil and gas price assumptions it uses when rating energy-sector corporates, reflecting the continued imbalance between oil supply and demand, as well as expectation that marginal costs will fall further in the medium term
The new assumption, or price deck, is for Brent to average USD55 a barrel in 2016 and USD65 a barrel in 2017, with WTI averaging USD50 a barrel in 2016, rising to USD60 a barrel in 2017.