Oil Consolidation Happening Without M&A, Says Della Vigna

The video discusses the evolution of the oil sector, highlighting a shift from an investment cycle with new entrants and easy funding to a phase where shale oil discoveries have addressed resource shortages. The focus is now on efficient development through infrastructure. The industry is experiencing consolidation, with major players dominating the market, reminiscent of the 1990s. This consolidation occurs even without mergers and acquisitions, as smaller competitors struggle with funding.

What does the term 'new Seven Sisters' refer to in the context of the oil sector?

In what way is the current market for oil companies described compared to the 1990s?