Is now the right time to refine the industry?

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It’s a question that has industry experts — and industry watchers — searching for answers. Supply is up, demand is down, and it appears that some of the conditions that created crude’s rapid price slump in late 2014 could remain in place for some time. Of course, the oil and gas business is no stranger to the market’s ups and downs. The boom and bust cycle is one that industry veterans know all too well.

But this time around, many are questioning the conventional wisdom that US$50 to US$60 per barrel is an aberration and that crude prices will soon return to the US$80 to US$100 per barrel range. In other words, is a world where oil is plentiful — and relatively inexpensive — the new normal?

Our latest insights

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