CNBC Oil Survey - 1 December 2015

1. Where do you see WTI's price at the end of this year?

Between $50-$60
8%

Below $30
4%

Between $30-$40
29%
Between $40-$50
59%

Value

Percent

Count

Below $30

4.2%

Between $30-$40

29.2%

Between $40-$50

58.3%

14

Between $50-$60

8.3%

More than $60

0.0%

Don't know/unsure

0.0%

Total

24

2. Where do you see Brent's price at the end of this year?

Between
$30-$40
13%
Between $50-$60
21%

Between $40-$50
66%

Value

Percent

Count

Below $30

0.0%

Between $30-$40

12.5%

Between $40-$50

66.7%

16

Between $50-$60

20.8%

More than $60

0.0%

Don't know/unsure

0.0%

Total

24

3. Do you think WTI can break $50 again before the end of the
year, even if it doesn't end above $50?

Don't
know/unsure
13%

Yes
17%

No
70%

Value

Percent

Count

Yes

16.7%

No

70.8%

17

Don't know/unsure

12.5%

Total

24

4. Do you believe WTI has seen its low?

No, but it will most
likely occur in the
second half of next
year
4%
Yes, it was set this
year
21%
No, but it will most
likely occur in the
first half of next
year
46%

No, but it could be

reached before
year end
29%

Value

Percent

Count

Yes, it was set this year

20.8%

No, but it could be reached before year end

29.2%

No, but it will most likely occur in the first half of

45.8%

11

4.2%

No, it won't happen until 2017 or later

0.0%

Don't know/unsure

0.0%

next year

No, but it will most likely occur in the second half

of next year

Total

24

5. Do you expect OPEC to make a production cut at its Dec 4th

meeting?

No
100%

Value

Percent

Count

Yes

0.0%

No

100.0%

23

Don't know/unsure

0.0%

Total

23

6. US oil production has been just under 9.2 million barrels a

day in November after peaking at 9.6 million in April. At the
end of the first half of 2016, production will be:
Slightly more
4%

About the
same
13%
Significantly less
30%

Slightly less
53%

Value

Percent

Count

Significantly less

30.4%

Slightly less

52.2%

12

About the same

13.0%

Slightly more

4.4%

Significantly more

0.0%

Don't know/unsure

0.0%

Total

23

7. What will Russia do if OPEC decides in December NOT to

cut production?
Russia will increase
production slightly
13%

Russia will keep

production
unchanged
87%

Value

Percent

Count

Russia will cut production significantly

0.0%

Russia will cut production slightly

0.0%

Russia will keep production unchanged

87.0%

20

Russia will increase production slightly

13.0%

Russia will increase production significantly

0.0%

Don't know/unsure

0.0%

Total

23

8. In 2016, Chinese oil demand will:

Fall
4%

Remain
unchanged
17%

Rise
79%

Value

Percent

Count

Rise

78.3%

18

Fall

4.4%

Remain unchanged

17.4%

Don't know/unsure

0.0%

Total

23

9. Is the market pricing in the return of Iranian oil?

Don't know/unsure
4%

No
22%

Yes
74%

Value

Percent

Count

Yes

73.9%

17

No

21.7%

Don't know/unsure

4.4%

Total

23

10. When will Iranian oil return to the market in a significant

way?

2017 or later
4%
4Q 2016
4%

1Q 2016
Don't
9%
know/unsure
13%

2Q 2016
40%
3Q 2016
30%

Value

Percent

Count

1Q 2016

8.7%

2Q 2016

39.1%

3Q 2016

30.4%

4Q 2016

4.4%

2017 or later

4.4%

Never

0.0%

Don't know/unsure

13.0%

Total

23