In just one month, everyone stopped talking about $100 oil. In six weeks, oil prices slid into a bear market from four-year highs in early October and booked their steepest one-day plunge in three years on Tuesday. Early on Thursday, Brent Crude was just above $66 a barrel and WTI Crude was at $56, down about $10 from the average price in Q3. Big Oil—which boasted soaring third-quarter profits on the back of stronger prices—now may have to show if it can continue the growing cash flow and profit trend with its conservative $55-65 oil price assumptions and breakevens for positive cash flows at around $50. Oil prices are $10-15 above most of the biggest oil companies’ stated breakevens, but the price slide over the past month may put to the test the years of cutting costs and bringing project breakevens to as low as possible. Breakevens at all […]