The last barrel
The upstream industry has had a tough start to the year, and if you‘ve read World Oil’s 2016 industry forecast earlier in this issue (pages 43–69), you’ll see that things don’t look like they’ll be getting any better in the near term. So far this year, we’ve seen oil drop to a 12-year low before rebounding (at least temporarily); thousands more job cuts reported by operators and service companies, alike; and the continued unveiling of operator budgets, which look to have been cut to the bone by the grim reaper’s scythe.
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