OPEC Announces Oil Production Cuts, page-14

imho oil cut will stabilize prices in the $30 range which is a good outcome while the CV-19 is causing the global slowdown. This will continue to pressure fraccing and the financing of fraccing for now and well into the future.

More oil coming out of the market, as companies continue to fold and drilling campaigns for short time scale fracced wells are no longer financed by top tier companies. Unconventional based on economics (ignoring the idea of tarriffs), about 60% should come out from existing levels at these prices. As it does and more normal activity picks up in 6-12 months, oils price will rise gradually. Which doesnt really affcet CVN, except perception. SANTOS would have to be crazy not to grab this opportunity.

Venezuela is in melted down, is actually importing with its currency going bonkers...
Brazil as another example... "According to a report from Swiss bank UBS, the impact of low oil prices will likely reduce the Ebitda of many major upstream companies by c.30pc per annum in 2020 and 2021. Estimates also suggest that the price collapse could cut $300-600mn from exploration budgets in Brazil in 2020. "

exploration dropping away will be good for already found oil...