With oil's supermajors in distress, can smaller independents step up and lead a recovery?


World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace discuss how an emerging disconnect between drilling activity and supermajors' earnings may reveal a shift in industry leadership, as evidence that the oil and gas industry is reaching a bottom emerges. Adding to the uncertainty, while July oil prices closed the month with a minor gain, the end of the OPEC+ production curtailment agreement could add further pressure to the fragile supply and demand balance.


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