Interesting to see Statoil´s CEO view of the O&G industry and what is to come on an interview with Bloomberg today. Some aspects that called my attention and are aligned with our point of view are:
a) It´s unlikely that crude prices will go above $70 a barrel this year despite OPEC´s effort on holding back production.
b) The industry has a new dynamic after the shale revolution, but shale cannot supply all demand, conventional still plays a role.
c) Operators have become more efficient and pushed break even numbers down, but pressure on prices from suppliers may return.
d) Everyone wants to know when the peak of demand for fuels will be. The real question should be: “How will things be after that this peak?”. In any ways, the path is long and still being paved. For those in the O&G industry, we still have a lot of work to do.
If you wish to see the interview, please find the link below:
https://lnkd.in/ezF8qMf