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Commodities Briefing - Categorized | Commodity Crisis, Oil more

Low commodity prices drive 2016 defaults, oilfields to shut

Posted on 10 March 2016

Commodity prices at multi-year lows drove a rise in defaults early this year, and the oil sector could see still more unprofitable fields shut, industry analysts said on Wednesday. Debt defaults in the commodity sectors rose in the first two months of 2016 from the same period a year ago, credit ratings agency Moody’s said.
“Of the 18 defaults since the start of the year, half have been in commodity sectors,” said Sharon Ou, a Moody’s vice president and senior credit officer, in an e-mailed statement late on Tuesday………………………………………..Full Article: Source


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