Oil Majors Face Another Impossible Decision

The oil industry only has two choices as it reshapes itself after the oil price crash — either become broader energy firms or pursue a narrower specialization in oil and gas, Energy Voice reported, citing a new report from PwC. The coronavirus pandemic brought a collapse in oil prices and demand which makes the choice for oil firms more urgent than before the crisis. Oil companies have “years, not decades” to decide which strategy to pursue and they should start choosing now, according to PwC as quoted by Energy Voice. In a recent…