The decline in the oil price has had a massive impact on the sector and the wider economy. Upstream capital expenditures (capex) have been significantly cut, with many exploration and production projects being put on hold. However, for the midstream and downstream, investment is continuing, as participants invest for the longer term.
The decline in the oil price is causing hardships for some exploration companies, but will create opportunities for those with the financial resources to acquire value assets that become available.
