AsianOil Week 11
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Issue 711 19•March•2020 Week 11
Price collapse
Even as COVID-19 derails global economic growth and oil demand, new supplies of crude are poised to flood the market.
Under pressure
China’s oil producers are more susceptible to low prices given the high cost of local fields.
Green light
Australia’s southern state of Victoria has announced that it will lift its moratorium on conventional onshore gas exploration from July 2021.
Budget cuts
Australia-listed Oil Search has slashed its projected capital and investment expenditure for 2020 in response to falling international oil prices.
