Considering the US negative Oil Price and Also the Global Average Oil Production Cost that Range between $30 to $40 a Barrel, Please Share your Perspective Regarding the Future of the Oil Prices, Oil Production and Oil Firms.
"US oil prices crashed into negative territory for the first time in history as the evaporation of demand caused by the coronavirus pandemic left the world awash with oil and not enough storage capacity — meaning producers are paying buyers to take it off their hands. West Texas Intermediate, the US benchmark, traded as low as -$40.32 a barrel in a day of chaos in oil markets." , reported by FINANCIAL TIMES on April 20, 2020.
Now the most common questions that might be raised in all people's mind is that " Will Oil Price Recover and Oil Industry Survive?? If Yes, When and How this will Occur?? "
Here is an interesting video on this that you might find very insightful.
https://youtu.be/DaPmKXWL8c8
Maybe, means we are uncertain but history repeats itself as there was hard time and oil or other industry gain peak and then come back to normal.
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