When the pain becomes so strong that big corporations see no other choice than asking for the market to throw more money at them its is getting interesting. Because I do not expect everyone to make it in one piece out of this rout. It’s not about cutting costs. It should be about looking at everything with the magnifying glass to identify where to reallocate money. Only cutting means that they essentially want to remain as they are and muddle through the hard times with some cosmetics. But cosmetics can’t fix cancer.
After months of low oil and gas prices driven by weak demand, the world’s largest international oil companies have largely exhausted their financial defenses, leaving little room to maneuver if they’re dealt further blows.