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Article: Falling prices slow, but fail to halt, worldwide effort; North Sea firms anxiously await price rebound. (Offshore Oil)
- Article from:
- The Oil Daily
- Article date:
- May 5, 1986
- Author:
CopyrightCOPYRIGHT 1986 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Falling Prices Slow, But Fail to Halt, Worldwide Effort
North Sea Firms Anxiously Await Price Rebound
WHILE NORTH Sea operators recognize that no magician is likely to wave his wand and make 25 percent of the world's production disappear, they would like more than anything else at the moment some idea of when the price of oil is likely to rise again.
The few prognosticators who did predict the price collapse noted that the first production to go would be the difficult, high-price oil, such as from the North Sea. The price, however, is not as high as many suggested: At the time the slide began, figures stated that something like 95 percent of ...