The drop in oil prices in recent years has sent shockwaves through the global energy industry. Suddenly having to operate at $30 a barrel instead of the previous average of $90 a barrel drove numerous companies out of business, and spurred strategic mergers for others. Those that survived the initial plunge in prices have since been faced with the realization that oil prices are currently averaging between $40 and $50 a barrel, far below the benchmark in previous years to make a profit.Furthermore, companies are realizing they not only need to streamline existing processes to meet this year’s objectives,…………….
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