We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

Close

subscriber-only content

or
for more website access

The content of this section is only available to Investors Chronicle online subscribers.

Oil's new ascent

If there is one lesson from the 2014-16 oil price crash - other than the failure of the industry to see it coming - it is that very little oversupply was needed for the price of Brent crude to fall 77 per cent. At its worst, producers were only pumping an extra 2m barrels of oil equivalent per day, roughly the same as ExxonMobil 's (US:XOM) crude production, or just over 2 per cent of global output. Were a similar-sized deficit to emerge, it would not be far-fetched to expect the reverse and for oil companies to once again find themselves in long-abandoned bull territory.

subscriber-only content

visible-status-Subscription-Only story-url-OilSpike_CoverFeature_091216.xml

By Alex Newman,
09 December 2016

Print this article
Comments

Related Companies

Advertiser reports

Register today and get...

Register today and get...
Please note terms & conditions apply