Introduction
The recent oil price crash has seen many oil and gas companies rush to reduce their dividends and it appears that Murphy Oil (MUR) is likely to be forced to follow shortly. Approximately two months ago I published an article warning that their dividend sustainability was lacking and thus vulnerable to a sudden downturn. Since then it has been worse than virtually anyone could have predicted, with the OPEC oil price war and coronavirus sending their share price plunging approximately 75% and thus sending their dividend yield to a massive 18%. This