The triggers...., page-14

Todays AFR :


"........Horizon Oil chief executive Brent Emmett voiced hopes the temporary nature of the deal would act as a deterrent for financiers of US shale projects not to dive back in to new ventures.
Mr Emmett is optimistic the cut will drive supply and demand back to balance next year.
"If you look at any forecast of supply and demand by a credible forecaster you can see supply and demand flirting with each other, coming together, after the tremendous oversupply that we've had since mid-2014," he said.
"Even to reduce production by a relatively modest amount is going to almost guarantee that balance.".......
......."Most people have adjusted their business models to work within an oil price of $US40 to $US50," Mr Biggs said. "I think the piece that is suffering is exploration."
"The people that are really hurt are those who have no production and rely on exploration and the farm-down model: there is just no business in that area."
Mr Emmett said that Horizon and most of its peers were "financially stable" at current or even lower prices, but noted investment across the global upstream industry had halved since 2014.
"At low oil prices it will continue to be restricted," he said.
"So if oil prices do recover - and  think they will and this move by OPEC is going to help - then you're going to see some more project investment approvals."

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