| World’s oil and gas companies will cut capital investments by 20-25 percent against the background of lower oil prices, the international ratings agency Moody's forecasts. Oil and gas sector expects an increase in the number of defaults in 2016, the agency said in a report Jan. 6.
The excess supply of oil will continue to put pressure on the world oil market, according to analysts of the agency. Moody’s noted that the oil-producing countries, including the non-OPEC states, won’t limit the volume of production due to the struggle for market share...............................................Full Article: Source
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