Wall Street Journal, referring to the US consulting firm Alix Partners believes that a third of US oil companies may soon go bankrupt due to the abnormally low oil prices. Alix Partners is expected to fall profits oil companies in the US and Canada in 2016 by another 20-30% compared to 2015. Current oil prices fell below the cost of all the leading oil shale in the United States.
OPEC gradually wins the price war, the US, and probably after his success to reduce the quota, which will lead to an increase in oil prices to a comfortable level. Probably, it is necessary to focus on pre-crisis prices, the budgeted major exporting countries. Now the cartel produced 31.5 million barrels per day, but more recently the volume of production is 24 million barrels per day.
Russia also increases the volume of production and exports. Support for Russian oil has a devaluation of the ruble. Oil production in Russia in the current year amounted to a record 533.6 million tons, 1.3% higher than in 2014. Oil exports from Russia in 2015 increased compared to the previous year by 7.5% to 238 million tons.
However, the situation is much more complicated than it seems at first glance. The crisis of the US oil sector superimposed on the Fed rate hike cycle. Increasing the value of money an additional negative for the US oil industry. Investors fear that the massive non-compliance companies of the sector may cause a new financial crisis, comparable to that of 2007-2008., And as a result, the bankruptcy of one or more major US financial institutions. The crisis, in turn, could plunge the US economy and, consequently, the global economy into recession. Risks of the global economy is now much more than it seems at first glance.