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The AAPG/Datapages Combined Publications Database
Southeast Asia Petroleum Exploration Society (SEAPEX)
Abstract
Oil Development Strategy in an Uncertain Market
Abstract
This paper contains observations about crude oil price forecasts and the way oil companies respond to oil price uncertainty. The industry is shown to act as though current oil prices are a good indicator of future prices. Industry earnings are shown to be less sensitive to low oil prices than might be expected. Strategically, it is important to recognize the inefficiency of the industry responding to rising and falling oil prices with “on/off” spending patterns.
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