The Price is Wrong: Crisis Response Strategies for Oil & Gas
Simon-Kucher and Rice University recently conducted a study to understand the impact of the current crisis on the Oil & Gas industry. 195 industry experts across all major O&G industry verticals shared their perspective, one third of respondents hold top & senior management roles.
- Prices are expected to take 3 years to get back to $60 per barrel Brent Crude.
- O&G companies will cut CapEx by 35% on average, significant price reductions are expected.
- 8 out of 10 O&G industry experts strongly underestimate the impact of price reductions, leading to wrong decisions and profit leakage.
- According to respondents, pricing initiatives yield the highest ROI of all internal projects, yet companies are too busy cutting costs and thus under-invest in pricing.
Join us as we share the detailed findings, discuss current developments in Oil & Gas and the importance of professional price management for companies operating in the industry.
If you have any questions, please contact Webinars@simon-kucher.com.