Oil havoc threatens industry’s access to capital

The oil industry’s ability to raise money in capital markets is coming under severe strain, as the coronavirus pandemic is forcing all analysts to tear up their assumptions and bringing unprecedented volatility in prices.
Expectations were already high for a wave of bankruptcies in the US shale oil sector; that is now even more likely. But the range of companies with severe financial difficulties will go well beyond that.
Brent crude oil, the global benchmark, has fallen 30% on Tuesday to below ...Already a subscriber? Login