Brent Crude is down to quote @ 26 3/18/2020.
This is well below inflation considering production costs are higher than they were last time oil crashed, from approximately USD-equivalent @ 15-20 (per barrel) years ago to now @ 20-25 (per barrel).
Shale companies to get at least decimated from this for several years.
Market share will be fought for with prices at these levels, price levels which will not last forever, maybe even only a few months. Unless Saudis and Russians are only people capable of producing the most cost efficient oil.
(That's a monetarism joke)
This is well below inflation considering production costs are higher than they were last time oil crashed, from approximately USD-equivalent @ 15-20 (per barrel) years ago to now @ 20-25 (per barrel).
Shale companies to get at least decimated from this for several years.
Market share will be fought for with prices at these levels, price levels which will not last forever, maybe even only a few months. Unless Saudis and Russians are only people capable of producing the most cost efficient oil.
(That's a monetarism joke)
Count Of Antwerp