According to Bloomberg, Mike Muller, vice-president of crude oil trading and supply at Shell International Trading and Shipping, said with current and future prices depressed, spending decisions on major projects have been delayed.
“You can count them on one hand,” Muller said of the major long-lead oil project investment decisions made in 2016.
Speculative Shorts: AAL, ALK, LUV, UAL, DAL,
Speculative Longs: XOM, CVX, DVN, MRO and CHK.
Please consider subscribing to my blog.