Production

$50 oil could wipe out 1.2 million bpd production by 2026, WoodMac cautions

Global oil industry bracing for impact as crude prices drop below $60 raising alarms over supply, investment and service sector stability

Fraser McKay, head of upstream analysis at consultants Wood Mackenzie.
Fraser McKay, head of upstream analysis at consultants Wood Mackenzie.Photo: WOOD MACKENZIE
Asia CorrespondentSingapore
Published 23 April 2025, 23:30Updated 24 April 2025, 06:31
Wood MackenzieOil PriceAfricaAmericasNorth America