Investments in Future Oil Projects at Risk
Bloomberg reported that after crude prices dropped 49% in six months, oil projects planned for next year are still alive, but with little hope of a productive future.
Bloomberg said in an analysis this week, Goldman Sachs found almost $1 trillion in investments in future oil projects at risk. They looked at 400 of the world’s largest new oil and gas fields — excluding U.S. shale — and found projects representing $930 billion of future investment that are no longer profitable with Brent crude at $70.
Bloomberg notes that in the U.S., the shale-oil party isn’t over yet, but zombies are beginning to crash it.
To read the entire Bloomberg article, click here.