Oil Producers Will All Burn Cash At $60 WTI: Oppenheimer

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Every major oil producer will be cash flow negative next year if oil prices stay where they are today ($55 WTI; $60 Brent), according to research from Oppenheimer analysts Fadel Gheit and Luis Amadeo, which seems like a pretty good reason to expect prices to come up. But even at $80 WTI, nearly everyone in the industry will be burning cash while fighting for market share. “We expect oil prices to remain volatile and unpredictable driven by speculation and competition for market share among OPEC and other large oil producers,” write Gheit and Amadeo. “We expect most, if not all,…

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