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More doom and gloom tipped for oilers

NORTH America is suffering a winter of discontent, with the catastrophic collapse in oil prices leading to impairments of some $US38 billion in the third quarter alone, and that was when the oil price was still a ‘healthy' $40-50 per barrel, and not today's sub-$30/bbl environment, with West Texas Intermediate hitting $US27 overnight.

More doom and gloom tipped for oilers

A report from consultancy Genscape found the US is set to see significant year-over-year declines in production, thanks to an expected sustained weakness in crude oil prices and oil rig utilisation at...

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