Today's Downturn Sets Markets Up For A Dramatic Oil Price Spike<
But that is a long way off for oil executives dealing with deteriorating balance sheets and rising debt levels
By Oilprice.com -- Nick Cunningham—— Bio and Archives--August 4, 2016
Global Warming-Energy-Environment | Comments | Back To Full Article
Another oil price downturn threatens to deepen the plunging levels of investment in upstream oil and gas production, which could create a more acute price spike in the years ahead.
Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.
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