Oil Executives Brace For Another Tough Year Ahead
Market Intelligence Analysis
AI-PoweredOil executives are bracing for another tough year ahead due to low oil prices and a potential supply glut, with nearly half of them reporting a worsened outlook compared to last year.
Market impact analysis based on bearish sentiment with 79% confidence.
Article Context
The oil markets are looking to finish the year on the back foot, with oil prices falling again amid expectations of a supply glut and Russia-Ukraine peace talks reviving. Nearly half of oil executives in the Dallas Fed’s latest survey have reported that their companies’ outlooks have worsened in the current year compared with last year as low oil prices take a toll. “Decreasing oil prices are making many of our firm's wells noneconomic,” one executive said in the new survey. “Natural gas is becoming an expense to operators.…
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