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Monday, 19 December 2016

Oil industry on the cusp of cash flow recovery

Oil industry on the cusp of cash flow recovery:
"The world’s major oil and gas companies will turn cash flow positive for the first time in three years in 2017 if the Opec production cartel succeeds in keeping the oil price above $55 a barrel.

That is the conclusion of Wood Mackenzie, the respected energy consultancy, in a new report that portrays an industry on the cusp of recovery from the steep declines in earnings and investment seen since crude prices crashed in 2014.

Deep cost cuts during the downturn, coupled with a gradual rebound in oil prices, were beginning to ease pressure on balance sheets and allow companies to move out of crisis mode, said Tom Ellacott, head of corporate research at WoodMac."

'via Blog this'