The dramatic fall in demand and prices for oil and gas due to the Covid-19 pandemic is forcing oilfield services and equipment (OFSE) companies to reinvent their business models, stress participants in the fourth PE Live webcast. "In more than 20 years, I cannot remember fundamentals deteriorating so quickly. And there is still plenty of uncertainty to how markets will develop, whether demand will ever go back to pre-crisis levels and what it all means for the OFSE sector," says Celine Delacroix, global head of oilfield services at professional services firm EY.
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