How low will this go?, page-11

These talking heads are calling extremes, as they are all short on the price of oil.

Saw another mob calling $10/bbl a couple of days ago

Meanwhile no real headlines that the Saudis bleed $13bil a month trying to destroy US shale.

Or no real headlines that 37 US oilers filed for bankruptcy in 2015.

Approx 47% of total liabilities is unsecured.

The wait and see mentality is now over, these oilers now realise the current POO spiral has decreased their ability to borrow against reserves by least 40%.

They are trying to reduce debt via equity investment, they will attempt to restructure or they simply have no choice but to file for Chapter 11 protection.