September 2018, Vol. 245, No. 9

Features

Strategy Shaped by Volatility

By Reid Morrison, Principal, PwC US After several years of oversupply, the oil and gas industry could be headed into a supply crunch. This may seem difficult to imagine. According to the U.S. Energy Information Administration (EIA), oil prices have almost doubled in the past two years – from $38.84 per barrel in January 2016 to $72.35 per barrel in May 2018.  Growth in world oil supply and demand Although the industry feels much healthier than it did 12 months ago, during the downturn companies reacted by focusing primarily on production and cutting costs. However, oil demand is growing, and the public’s assumption is that supply is ea

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