Tortoise’s Rob Thummel in S&P Global

Big Oil’s resistance to coronavirus-led price drop set to be tested

HIGHLIGHTS

  • Big Oil won’t change plans yet, but US shale projects more exposed
  • Oil majors look in good shape to ride out short-term impact
  • Non-OPEC production won’t face significant impact over next few months

London — Oil majors are likely to keep investment plans intact in the coming months but could have to reassess should oil prices drop well below $50/b for a sustained length of time, according to analysts.

Read more here: https://www.spglobal.com/platts/en/market-insights/latest-news/oil/030320-big-oils-resistance-to-coronavirus-led-price-drop-set-to-be-tested

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