This is a brutal day in the markets with asset values melting down and oil getting hammered ($78 as of this writing). Buckle up, the ride could get bumpy as this new dose of volatility intersects with year-ahead budget / planning season.
That said, if there’s one thing oilfield pros are used to, it’s volatility. This isn’t the first time most Infill Thinking readers have seen a 35% oil price correction in 4 months! And 2022 has taught us that demand for conventional energy products is not going away any time soon.
If this big oil price correction sticks and oil prices settle out in the $80s for next year vs. $100 for much of this year, what will that do to the outlook?
There’s a lot more to this story…
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