By David Fessler For the last several months, world oil markets have taken it on the chin.
There’s been too much production and unprecedented coronavirus-led demand destruction. Global storage capacity is also nearly full.
But the hurt is just getting started…
Price Update
In the exploration and production (E&P) space, cash flow is king.
If an E&P company isn’t pumping and selling crude oil, it doesn’t have cash coming in. And if that’s the case, it doesn’t have any choice but to close its doors.
And that’s exactly what an increasing number of E&P companies are doing. When oil briefly traded below $0 per barrel a few weeks …read more
