How "lower for longer" has become the new baseline for the oil and gas industry

World Oil's Daily Brief

As forecasts show no near-term end in sight for depressed oil demand, operators are making dramatic adjustment to meet the new oil and gas industry reality. World Oil's Kurt Abraham and Cameron Wallace discuss how another record low rig count, projections for continued demand weakness across the board, and dramatic CAPEX budget cuts demonstrate a challenging new reality for operators and service companies.