On Friday it was reported that 1 in 7 barrels of oil being produced in UK waters is being done so at a cash loss

  • (That estimate is from consultancy Wood Mackenzie)
  • In a separate study, commissioned by the Financial Times, findings suggests half of oil and gas companies with North Sea operations are now loss-making

Plenty more at the BBC

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Its been said before, but the best cure for low prices seems to be lows prices.

Low price -> drop in supply -> higher prices (eventually)