Oil Price challenges

With the Oil price continuing to keep below $50 a barrel the impact on the whole supply chain in the E&P space is significant. Companies are having to cut their cloth accordingly and as we enter in the Q4 for 2015, CAPEX programmes for 2016 are likely to come under further scrutiny. If the nuclear deal with Iran is then ratified, then that will also have an impact on what happens to the price.

All in all when you talk to companies in the market there is a sense of a prolonged depressed oil price and this in turn will lead to a very different way in how companies operate for the forseeable future.