Oil industry vulnerable amid second major crisis in six years

The global oil industry is far from prepared to weather the current storm, according to a new analysis by consultancy MSI Offshore.

BY MATHIAS JULIUS FALKENGAARD

Published: 06.04.20 at 13:37

It's going to be particularly difficult for oil companies to handle the crisis of supply and demand brought about by the explosive spread of the coronavirus – not least because the costs were already brought far down during the last oil crisis, analyst firm MSI Offshore assesses.

In an analysis, MSI Offshore notes that two black swans have landed on an already soft market.

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Welcon's record revenue shaves paper-thin profit margin

State-subsidized steel from China is making the Danish wind turbine tower supplier's profit bottom out. If the EU doesn't decide to impose a tariff on Chinese steel this year, Welcon predicts that several suppliers will collapse. "But it won't be us," the CEO says.