Oil price plunge may postpone drilling sector recovery

The low oil price following Monday's big plunge could mean that a recovery of the drilling sector is put on hold, says analyst firm Kepler Cheuvreux.

Photo: PR/Maersk Drilling

On Monday, plummeting oil prices contributed to sending Maersk Drilling and competitors on a steep decline on stock markets across the world.

The drilling rig sector has in recent years shown signs of recovery after having been under hefty pressure, but the low oil prices generate major uncertainty at both oil companies and rig suppliers, among others.

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