The paradigm in the oil industry was for super-majors commissioning multi-billion dollar, decades-long projects with massive fixed-costs, such as an offshore production facility.
As long as the variable costs of production - engineers and the like - remained below current prices, production carried on. This made for relatively inelastic supply, with production at a given time...
Which companies are bridging the generation gap?
Dividend forecasts slide for second quarter in a row
The best time to invest is when the market is unloved
Initial FOC of 0.6%