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re: Oil hit $21 and has momentarily stabilized at 21-22. FoxBiz: Could go to $0
Posted on 3/19/20 at 8:33 am to lostinbr
Posted on 3/19/20 at 8:33 am to lostinbr
The difference is this time it will work if they can hold out for a yr or so. We will see a lot of bankruptcies soon, shale has been battered and on life support except for a handful of companies.
2
Posted on 3/19/20 at 8:54 am to GREENHEAD22
Maybe, but OPEC isn’t much of a cartel if Saudi Arabia is the only member left standing when the dust clears.
Posted on 3/19/20 at 8:58 am to GREENHEAD22
quote:
The difference is this time it will work if they can hold out for a yr or so. We will see a lot of bankruptcies soon, shale has been battered and on life support except for a handful of companies.
Yeah, but the infrastructure, knowledge of fields and equipment are there and can be restarted once prices come back up. Only way would be for Aramco to start picking up these companies at a discount.
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