The coronavirus epidemic is shaking the global oil industry. Almost simultaneously, four majors of black gold - ExxonMobil, BP, Shell and the French company Total - announced that they would reduce the airfoil to absorb the shock . “Two shocks in this case , specifies Clément Leroy, of the Wavestone cabinet. There is the cessation of activity caused by the pandemic, and there is also the oil crisis triggered by the quarrel between Saudi Arabia and Russia, two major producing countries unable to agree to align their volumes of deliveries. "
Read also: Markets and oil unscrew
On Monday, a barrel of brent crude in London plunged to 25 dollars, raising the specter of the 2014-2016 period, when crude rose from 110 to 35 dollars. And if the crude rose to 28 dollars in the day Tuesday, already, several experts predict a tumble around 20 dollars.
"This is where the efforts undertaken by the companies in recent years to rationalize their costs pay off ," continues Clément Leroy. Their threshold
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