Banks reassessing credit lines to some US energy firms
As crude prices plunge, highly leveraged companies may face cash crunch
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Houston
BANKS are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly leveraged US exploration and production firms.
With US crude production still rising and the oil cartel Opec showing no willingness to cut output to curb global oversupply, there is little to suggest that prices will rebound soon from a 40 per cent slide since June.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
