Yes, it’s only one year ago. Feels like the last century – doesn’t it? We forget quickly those days and the market forgets very quickly as well. Oil prices are above pre-dip and many companies that were on the verge of kicking the can are back in business. Now, something else breathes down the neck of Oil & Gas and this opponent is much more vicious. But it won’t persevere.
Rystad Energy's head of oil markets offers a few thoughts for the anniversary of the day oil prices turned negative.