Analysts: Oil industry about to make the real cuts

The cost reductions in the energy sector are far from fully exposed. In the coming weeks and months the oil companies will perform significant cuts in their investment levels, several analysts tell ShippingWatch.
Photo: Xervo
Photo: Xervo
BY KATRINE GRØNVALD RAUN

It is a matter of time before the oil companies start acting for real and begin to reduce their investment levels for the coming years as a result of the extremely low oil price. The first companies will make announcements already in the coming weeks, cutting pieces off future investments, while many others will follow suit in the months ahead when they will have to present their expected Capex 2015 in relation to annual reports for last year, several analysts tell ShippingWatch.

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