Although prices are down and uncertainty remains, Zborowski at Oil and Gas Journal contends that those involved in the oil & gas industry are dealing with the negative impacts of the current downtown better than previous ones.
I always try to look at the bright side of things in tough times, and stand firm in my support of the oil & gas industry for the long run. Companies are now better managed compared with previous downturns. According to co-head of oil and gas for the Americas at Credit Suisse, Timothy Perry says there is a belief over time that oil and demand will increase and supply will decrease. M&A deals are also expected to accelerate in the second half.
Costs have been an issue for years, so this economic downtown will only push and further focus oil & gas minds to be as resourceful and efficient as possible when the cards are not in their favor. When our industry booms again we will only be sharper.