RE: NO FID in the next 5 years23 Apr 2020 11:36
Godders, you really go out of your way to deramp, amazing the effort you put in. I wonder why?
In truth the likehood is that when the world starts getting back to normal there is likely to be a huge spike in oil prices. The reason for this will be that shutting down oil wells is firstly not good for the life of a well, some will not be monetary worth starting up again as restarting can cost a lot of money. There is once the oil in store has been used up a likely lag time for the oil suppliers to catch up. Reality is that suppliers and users prefer the price to be in the 60 dollar range, too high affects growth ,too low makes wells uneconomic. The price after this low will likely spike then settle in the 60’s. This is well known by people who plan 5 years ahead not 6 months which seems to be your outlook, or maybe the outlook you pretend to have.