Woodmac: How has the Price Crash Changed the Upstream Sector?

According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry.

Andrew Pearson, vice president, upstream, said: “This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the previous US$60/bbl – and much more.

Continue reading