Two years into the worst oil price rout in a generation, large and mid-sized US independent producers are surviving and eyeing growth again as oil nears US$50 a barrel, confounding Opec and Saudi Arabia with their resiliency.
That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back Opec's attempt to sideline them would have been unthinkable just months ago, when oil plumbed US$26 a barrel and collapses were feared.
To regain market share, the Organisation of the Petroleum Exporting Countries in late 2014 pumped more oil despite growing global oversupply. It aimed to drive prices lower and force higher-cost producers out of the market, with shale oil seen as especially vulnerable.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back Opec's attempt to sideline them would have been unthinkable just months ago, when oil plumbed US$26 a barrel and collapses were feared.
To regain market share, the Organisation of the Petroleum Exporting Countries in late 2014 pumped more oil despite growing global oversupply. It aimed to drive prices lower and force higher-cost producers out of the market, with shale oil seen as especially vulnerable.
No comments:
Post a Comment