RE:Oil back to $45.00Only oil companies with positive cashflow, otherwise banks won't loan them money. And, the companies that have positive cashflow should be looking for M&A or paying down existing debt in lieu of adding production, or adding wells to accomodate natural decline in their own fields. That won't be many.
Production decline will continue across the world. Price of oil needs to be much higher.
Buying on the dip I suggest. ;-)
All IMO.