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WTID - Upstream Service Sector In The New Sub-$40/bbl Brent Environment
UBS AG London Branch ZC SP ETRACS REDEEM 04/01/2047 USD 25 - Leveraged Inverse
This crash could add the finishing touches to the grand reshuffling of the upstream service sector that started in 2014
The last month has been a nightmare for the upstream service sector. Brent plunged to around $20 in March. And the signs of an impending upstream service sector recovery in 2020 was quickly vaporized. Demand destruction as a result of COVID-19, and the oil market price war are the key factors derailing the recovery. Both are unforeseen and their future development are highly uncertain. The upstream supply chain must brace itself for an uncertain and