Oil Price Pain ‘Unbelievable’ for Producers, Says Amrita Sen

The transcript discusses the cancellation of an event in Houston and the impact of $33 oil prices on companies. It highlights the challenges in growth due to low natural gas prices and the responses of companies, including dropping rates and not completing wells. Future projections indicate a potential fall in US oil production by a million barrels per day. Financial challenges are exacerbated by a lack of private equity and lending, with a noted difference in sector interest compared to 2014 and 2016.

What are the implications of companies dropping rates in the oil industry?

What role does private equity play in the current oil market situation?