Oct. 2 - Big Oil companies face a major challenge to their business model. A sustained fall of crude oil into double-digits is forcing them into a bout of self-help.
Well I just finding themselves a little bit of a quandary given the the price of all the foreign prize vote down -- that -- double digits would be that for some time now with the times and self help. Rises bringing his overcoat joins you this year I'm -- mom brother has put out this this this piece today. I'm proud of the Exxon's the shells and what they can do to help themselves and as our tax cut costs. But it eights eights they must self help themselves votes could that would have brought to expression. For a possible and -- below hum goods I think -- and WT on Monday even hitting ninety as a defenseman Brian but. It's going down just to get the -- under -- -- and as the cross of the stuff goes down it becomes more difficult. For the oil manages to make. Money in the background is many resorting ways that you know -- some national oil companies. That I in the next easiest access. I'm shy it was a big. Issue in terms of driving the price of global. A price of oil down as well. So oil -- just find themselves in this really tricky position where you know say. I own difficult hard to find access but they're subject to sign proxy impressions as as I've run -- so yes. Cost counting on selling assets that borrowing more money to the bonds. Well I don't get hit that fat that's the very that they those sort of the -- that seven. Waiting to draw -- we say. You know quite clearly that question marks. A law and all must be raised about the dividend broke -- -- yet you know maybe forgot about eighteen dollars oil maybe that's what -- we get to it. But those of twist in the -- is that they will come a point when OPEC who -- how often enough to. Also the price of oil well sat huddled in that we -- because we've we've we've set in the stuff and let's face strictly and so it -- so. Actually self help. Yes of course he although my ages -- in indulgent that don't go must get to grips with that but actually it's probably a couple of pat and -- Let's face I -- what we don't really want -- below a hundred dollars. Chances are we assume -- output next announcements and as a result of this full. It's the vastly unit received wisdom on but no reason to to doubt that something might happen which means that saudis and the others that changed their minds but I think -- been pretty consistent for pretty long time. -- don't -- about a hundred dollars -- idea then between ninety of between ninety and -- hundred in because of politeness and. Single -- has been in the peace Tom. Among the big companies any Exxon and shell are gonna come of that dividend for feet from free cash flow this year just -- -- And it's cry -- and says some interest in numbers their own. The amounts and borrowed and the amount of access tunnels and wells to try and square this very difficult so cool circuit all right I've you can read -- -- of course on the breaking news site that's piece from mafia somehow probably. -- thanks Robert Culp at the US shares a -- at least sending that'd be ST I'm axle problems sorts.