$25 oil is coming, and along with it, a new world order
"Oil demand will peak 2021-2020 and will go down by 100 million barrels, and will go down to 70 million barrels within 10 years. And essentially what that means is that the new equilibrium price in the oil markets is going to be $25. So if you produce oil and you can't compete at $25, essentially you are holding stranded assets," Seba said.
"At $25 that means deep-water, sands and shale oil fields, most of them are going to be stranded. And also, all the refineries and the pipelines associated with these expensive oil are going to be also stranded. And that is going to reshape, of course, worldwide oil geopolitics and so on."
https://www.wsj.com/articles/get-rea...and-1495419061
The future looks grim for the offshore business.
What's your thought?