Oil Industry Is Over Leveraged And Needs $65 OilRupert Hargreaves
The oil industry is overcapitalized, over leveraged and needs >$65/b oil to survive according to a research report issued to clients of Oppenheimer.
According to Oppenheimer's analysis, the prevailing low oil prices are unsustainable in a world accustomed to $100/barrel oil. High prices accelerated industry cost inflation, boosted oil supply and curbed oil demand growth. As a result, the $100/bbl environment to which the industry has become accustomed to has left many producers over-capitalized and over leveraged.
The report . . .
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