2020 wipes US$1.6 trillion from upstream industry: WoodMac

ANALYSIS from Wood Mackenzie shows the oil price crash in March has wiped out US$1.6 trillion off the valuation of the global upstream industry.

2020 wipes US$1.6 trillion from upstream industry: WoodMac 2020 wipes US$1.6 trillion from upstream industry: WoodMac 2020 wipes US$1.6 trillion from upstream industry: WoodMac 2020 wipes US$1.6 trillion from upstream industry: WoodMac 2020 wipes US$1.6 trillion from upstream industry: WoodMac

Capex cuts in line with expectations

"This figure captures the impact of Wood Mackenzie's downgraded long-term Brent price assumption - now US$50/bbl (2020 terms), rather than the previous US$60/bbl - and much more," Wood Mackenzie