I think bankruptcies are not such a good indicator of the bubble being burst as many companies will be taken over first, and producing lands will continue to produce while assets are sold by liquidators.
What matters more is financing of new wells, which has already fallen. I would say the bubble has well and truly burst.Will just take a while for oil price to recover as US supply plateaus and falls.
DLS Price at posting:
$1.00 Sentiment: Hold Disclosure: Not Held
