The Oil Industry Is Borrowing Again, But This Time It’s Different ...Middle East

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The Oil Industry Is Borrowing Again, But This Time It’s Different
source : OILPRICE ( Middle East ) () 18
Two years ago, Wall Street banks were on their way out of a long-term relationship with the oil industry. Now, with oil prices over $70 for the first time in three years, big bond buyers are snapping up oil bonds once again. Only there is a condition this time. The Wall Street Journal’s Joe Wallace and Collin Eaton wrote this week that Wall Street was buying bonds from non-investment-grade U.S. energy companies, which took advantage of record low interest rates to raise some $34 billion in fresh debt in the first half of the year. That’s…

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