Lower-for-longer market has many service companies in survival mode
With little visibility in commodity markets going forward, many service and supply companies are facing a struggle for survival, according to the Service & Supply Outlook Report recently released by JWN and partner Grant Thornton LLP.
A survey of 545 service and supply companies found over 30 per cent of respondents are pessimistic or very pessimistic they can survive sub-$50/bbl oil for an extended time and a little over 40 per cent said they were unsure they could survive a lower-for-longer market.
Download the 2016 Service & Supply Outlook Report here.
Source: JWN & Grant Thornton LLP