Big Q2 drops in oil production at more than 20 major oil companies are startling, even...

|By:, SA News Editor
Big Q2 drops in oil production at more than 20 major oil companies are startling, even accounting for lost Libyan production, Deutsche Bank says, and are not likely to be offset by unconventional deepwater or shale E&P projects, except at XOM, OXY and MRO. Wall Street will need to ratchet down its estimates, and oil prices could rise to $120/barrel.