Can STO survive, page-296

Major producers not slowing down
OPEC not cutting production
US shale oil booming and coming online
Iran sanction lifted, more oil in market
China demand slowing down
With low oil price, the only way to keep the companies cash flow going is to produce more, which will in turn drive the oil price further down.
Clearly supply outweighs demand and low price is going to stay for long. There is just no end in sight until some structural changes.
Santos will probably come up with record number of production figures. Of course. If not they won't have enough cash flow to survive. Worse, Santos has huge debt to service. So they have more incentives to produce more. A rise in US is not helping to pay down debt. Bankers are unlikely to lend them more at these level of oil prices. So how they are going to pay back? Very risky.
Is oil industry about to die? Far from it. The true is no one on earth knows when oil will rebound. All speculation.
Unless you are tech or short traders or you have extra to take a punt, I'd stay clear.