Nordea: Subcontractors the big losers following oil drop
Nordea says that one industry in particular will be hit hardest by the dramatic decline in the oil price: The subcontractors, says the bank in a market assessment in which the bank also points to companies that are particularly at risk.
BY TOMAS KRISTIANSEN
The biggest losers are not the oil companies themselves, but rather their subcontractors, who have spent years living large on the industry's enormous investment level, says Nordea in a assessment of the offshore sector published Monday, on a day when the oil price dropped even further, this time down to USD 68.
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