Global oil industry: What's there for India in 2017?

The global oil sector is incredibly resilient with some best minds working in this industry. Since 2014, the industry has seen turmoil with the prices plummeting to levels rarely seen. Many had predicted the collapse of this industry but the sector has sustained the low price momentum that has impacted it for the past two years. However, the impact of this downturn is likely to have long-term effects on the industry in a number of areas like capital allocation and manpower.

First half of 2016 was a very difficult year for the oil industry as upstream capital spending remained under extreme