S&P Global Ratings today lowered its West Texas Intermediate (WTI) and Brent crude oil price assumptions for 2020 by $10 a barrel. Oil price assumptions are unchanged for 2021 and 2022. In addition, we affirmed the Henry Hub and AECO Canadian natural gas price assumptions (see table 1). These revisions are effective immediately. We use this price deck to assess sovereign and corporate credit quality, in particular for exploration and production (E&P) companies and for oil-producing countries, in accordance with the ratings methodology described in "How S&P Global Ratings Formulates, Uses, And Reviews Commodity Price Assumptions," published Sept. 28, 2018. Over the next several weeks, we will continue to conduct reviews on investment-grade and speculative-grade E&P and oilfield services companies.
