On a macro level, currently across world wide the oil supply is bit more than the demand, (2-3%), now that trump has promised lower crude oil prices this will affect the Jindal drilling Directly, however over night without the increase in supply the oil prices can’t go down drastically (barring pandemic events), so they need to more extraction which will increase the demand for rigs.
So all in all the oil price may not go up by a lot, which is not lucrative for the oil extraction which inturn adversely affect Jindal drilling
Any thoughts?
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