Even without OPEC meeting, low oil prices are fixing up oil mess by itself!
Oil Search mulls shutdown of oil fields on low prices
Angela Macdonald-SmithSenior Resources writer
May 5, 2020 – 5.57pm
Oil Search chief executive Keiran Wulff has revealed that the Papua New Guinea oil and gas producer may take the drastic step of temporarily shutting down oil production from July as it baulks at selling cargoes at rock-bottom prices.
Dr Wulff told the Macquarie Australia Conference that while Oil Search had sold forward its crude oil through to June, it was looking at options for oil that would be produced from July, given very soft prices amid full stockpiles around the world.
Even without OPEC meeting, low oil prices are fixing up oil mess...
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