DRILLING

More healing time needed

MORE rig retirements are needed before the oil market can heal, as reports of a near five-year low in global oil supply outages and a rocket from Societe Generale have put the bears on the front foot.

More healing time needed

Societe Generale downgraded BP, Statoil and Eni after cutting its 2017 Brent price targets from $US55/barrel to $50, next year's outlook from $60 to $50 and its 2019 forecast from $65 to $52. It...

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