Rosneft Doubling Down To Survive Oil Price Storm

Oil prices are now looking to fall even further. WTI is trading below $41 per barrel and has already breached the six-year lows.With persistent oversupply in global markets (along with Iran’s upcoming reentry to the market) coupled with the economic slowdown in China and Japan, the bearish trend in the oil markets might persist in coming months.In fact, some market analysts and traders are even predicting oil prices will fall to $30 per barrel.The sustained oil price fall since last year has adversely affected global drilling activity, but there is one company that is largely unaffected by this, as it feverishly pursues its drilling activities. Russia’s Rosneft, the world’s biggest oil company (by trading volumes), has actually increased its drilling activities during the last seven months.

via Rosneft Doubling Down To Survive Oil Price Storm | OilPrice.com.

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