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E&P capex-II: If $ 1 trillion of investments has been taken out, why are oil prices lower next year and onwards?
Sep 07: The whole lack of capex story eventually rolls on to impact the price of crude
8So, as Wood Mackenzie claims $1 trillion in capex from 2015 to 2020 has been taken out of the system, surely crude prices must go up
8Additional barrels of oil will come out of non-producing assets with a higher breakeven point
8But then why is the crude price slated to be lower next year than this year?
8What explain this contradiction?
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