Developed States Investment Opportunities In Oil & Gas: Risk/Reward Analysis
North America maintains the top spot in our Developed States Risk/Reward Ratings. Continued jockeying for the top spot between Canada and the US underscores the extent of competition between these strong markets. In Europe, North Sea duo Norway and the UK maintain their strong showing in our upstream rankings, bolstered by a resurgence of activity in their prospective offshore. While momentum on shale gas poses some long-term upside to the upstream scores of a number of European markets, we see continued downside risk to downstream scores stemming from a muted outlook for consumption and the likelihood of further refinery closures on the continent.