Survey reveals how energy experts feel about falling oil prices

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30th March 2015 17:51 - Oil and Gas

A survey conducted by Capital One has found that 89 per cent of those working in the oil and gas industry do not expect the price of oil to Survey reveals how energy experts feel about falling oil pricesbounce back this year.

Capital One surveyed 107 professionals, who attended the North American Petroleum Expo in Houston.

The issue, which 73 per cent of the respondents cited as the most worrying, was the pressures surroundings the price of oil and natural gas. This finding is 50 points higher than last year, at a time when the price of crude oil was above $100 per barrel.

Very recently, West Texas Intermediate crude oil for May delivery traded just short of $50.

Head of energy investment banking at Capital One, Russ Johnson, said of the industry findings: “Concerns about energy prices will impact the operational and financial outlook of companies across the industry.”

Although many claimed that they were very concerned about the price of oil and gas, it seemed that increased government regulation took a back seat in terms of people’s biggest worries, with only 11 per cent saying that it was their main concern. This figure greatly contrasts with that of a year ago, when 51 per cent identified increased government regulation as their main worry.

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