FTSE 350 Review 2019 

FTSE 350: Big oil in the balance

FTSE 350: Big oil in the balance

What would true 'balance' in the oil and gas market look like? Ask an industry executive or a state oil minister, and they might say '$65 a barrel'; high enough to incentivise new projects and exploration, but low enough to prevent a flood of supply. Ask a US shale oil driller, and they might see balance as maximising production while keeping financiers onside. Ask a climate scientist, and they might view balance in environmental terms, and the need to abandon all exploration work, manage production declines, and rapidly pivot to an electrified transport system and a grid powered by renewables, where the levelised cost of energy continues to fall – and in many cases now beats – fossil fuels.

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