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Most British companies are not ready to leave the EU, As oil prices fall, daily production will decline significantly

Most British companies are not ready to leave the EU
As we all know, Britain’s Brexit transition period will expire at the end of this year. The Johnson government threatened that no matter what agreement is reached with the EU, it must formally leave the EU on January 1 next year. But the question is whether British companies are ready for Brexit? According to the latest survey by the Institute of Directors, only 25% of British companies are fully prepared for Brexit by the end of this year. Most companies are not ready yet. The survey was conducted at the end of June, and was mainly the result of interviews with the directors of 978 companies. Most enterprises are not prepared for Brexit, which may be due to the epidemic relationship, which has affected their plans. It is also said that the main reason for not getting ready is that the government's guidance on Brexit lacks clear details. Even more companies claim that the government is constantly changing plans to keep them at a loss. If the above survey is indeed correct, based on the fact that British companies are not ready to leave the European Union, it is conceivable that if Britain really wants to leave the European Union next year, the British economy will be hit hard.

As oil prices fall, daily production will decline significantly
The US Energy Information Administration (EIA) estimates that local shale oil production in August will decline significantly to 7.49 million barrels, an average daily reduction of 56,000 barrels, the lowest level in two years. The main reason is that oil prices have fallen sharply, forcing shale oil producers to suspend some production capacity. According to data from Baker Hughes, an American oilfield service provider, the number of local active oil and gas wells has dropped to a record low of 258, reflecting that oil prices at this stage are difficult to support shale oil producers to increase production significantly. The probability that the action will help curb oil prices and capture lost market share

 




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