Oil crash threatens to sink industry

Original article by Perry Williams
The Australian – Page: 13 & 20 : 23-Apr-20

Shares in Australian oil and gas producers were sold down on 22 April, as the global oil glut and falling demand continued to weigh on the crude oil price. The price of Brent crude oil reached a low of US15.98 a barrel, and Citigroup expects it to fall below $US10. The firm expects Brent to average $US17 a barrel during the June quarter. Coal-seam gas industry executive Richard Cottee says a significant production cut may be needed to boost the crude oil price.


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