CNBC Oil Survey, Sept 26, 2016

1. Do you believe the OPEC gathering in Algeria will result in an agreement on

production?
Don't know/unsure
4%

Yes
31%

No
65%

Value

Percent

Count

Yes

30.4%

No

65.2%

15

Don't know/unsure

4.3%

Total

23

2. Do you believe there will be an emergency OPEC meeting this fall?

Don't know/unsure
13%

Yes
26%

No
61%

Value

Percent

Count

Yes

26.1%

No

60.9%

14

Don't know/unsure

13.0%

Total

23

3. Do you believe an OPEC agreement in the near future to freeze at record

production levels would have a meaningful impact on crude oil prices?
Don't know/unsure
9%

Yes
52%

No
39%

Value

Percent

Count

Yes

52.2%

12

No

39.1%

Don't know/unsure

8.7%

Total

23

4. Do you believe that a rebalancing of oil supply/demand is occurring?

No, supply
continues to be
greater than
26%

Yes, as expected
22%

Yes, but slower

than expected
52%

Value

Percent

Count

Yes, as expected

21.7%

Yes, but slower than expected

52.2%

12

No, supply continues to be

26.1%

0.0%

Total

23

greater than demand

Don't know/unsure

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

Between $30$39
9%

Between $50-$59
39%
Between $40-$49
52%

Value

Percent

Count

Below $20

0.0%

Between $20-$29

0.0%

Between $30-$39

8.7%

Between $40-$49

52.2%

12

Between $50-$59

39.1%

Between $60-$69

0.0%

$70 or more

0.0%

Don't know/unsure

0.0%

Total

23

6. Do you believe oil prices have the potential to make new lows this year?

No, prices will go

higher
30%

Yes, another
drastic drop is
possible, even if
temporary
13%

No, prices will

remain relatively
stable
57%

Value

Percent

Count

Yes, another drastic drop is possible, even if temporary

13.0%

Yes, another drastic drop is possible and may not be

0.0%

56.5%

13

No, prices will go higher

30.4%

Don't know/unsure

0.0%

Total

23

temporary
No, prices will remain relatively stable and continue in a
range

7. With crude prices in the current range, do you expect US supply to decline
significantly in the next six months?
Production will
only rise
significantly
with prices
over $60
4%

Yes, production in
the US will slowly
continue to fall
22%

Production will
only rise
significantly with
prices above $50
22%

No, production will

remain flat or even
rise if prices stay
over $40
52%

Value

Percent Count

Yes, production in the US will slowly continue to fall

21.7%

No, production will remain flat or even rise if prices stay over $40 52.2%

12

Production will only rise significantly with prices above $50

21.7%

Production will only rise significantly with prices above $60

4.3%

Don't know/unsure

0.0%

Total

23

8. What will be the most important factor influencing crude prices through the
end of the year?

Geopolitical
events
9%

Global
overproduction
22%

Dollar index
fluctuations
9%

OPEC
13%

US production
8%

Demand trends
39%

Value

Percent

Count

OPEC

13.0%

US production

8.7%

Demand trends

39.1%

Dollar index fluctuations

8.7%

Global overproduction

21.7%

Geopolitical events

8.7%

Don't know/unsure

0.0%

Total

23

9. Do you think the US presidential election will influence crude prices?

Don't know/unsure
4%

Yes
22%

No
74%

Value

Percent

Count

Yes

21.7%

No

73.9%

17

Don't know/unsure

4.3%

Total

23

10. How would the election of Hillary Clinton impact crude prices?

Move them
lower
9%

Move them higher

17%

No effect
74%

Value

Percent

Count

Move them higher

17.4%

No effect

73.9%

17

Move them lower

8.7%

Don't know/unsure

0.0%

Total

23

11. How would the election of Donald Trump impact crude prices?

Move them lower

17%
Move them higher
35%

No effect
48%

Value

Percent

Count

Move them higher

34.8%

No effect

47.8%

11

Move them lower

17.4%

Don't know/unsure

0.0%

Total

23