der to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if oil prices are toppish here then both Apache and Lukoil (despite th

der to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if CONFIDENTIAL UBSTERRAMAR00000504 EFTA00236208 oil prices are to

der to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if oil prices are toppish here then both Apache and Lukoil (despite th

der to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if oil prices are toppish here then both Apache and Lukoil (despite th

der to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if oil prices are toppish here then both Apache and Lukoil (despite th

imates that production capacity is to increase -1000 Mb/d by 2020 from currently estimated capacity levels. However, commentary from companies like Lukoil and BP suggest that there may be downside risk to the estimate as significant investment is required in Iraq's southern oil fields particularly wit

of the =orst performing markets in 2017. Under-positioning and fundamentals =etting better Long equal =eighted basket of Russian Oil names: Gazprom, Lukoil, Rosneft 07/11/2017 22/02/2018 98.95 113.04 4 EFTA_R1_01638131 EFTA02507468 We think we are entering a period of =ncreasing volatility into

of the =orst performing markets in 2017. Under-positioning and fundamentals =etting better Long equal =eighted basket of Russian Oil names: Gazprom, Lukoil, Rosneft 07/11/2017 22/02/2018 98.95 113.04 We think we are entering a period of =ncreasing volatility into the Italian Elections (4th March) an