The offshore community, particularly offshore service vessel operators and drillers in the deepwater Gulf of Mexico, entered 2020 fairly confident that a drilling recovery was in the making, only to be sucker punched early on by a demand-sapping coronavirus pandemic and a global oil price feud.
To point, just as the escalating novel coronavirus was eroding demand and thoroughly disrupting the supply chain, Saudi Arabia-led OPEC and its one-time Russia ally split over production cuts in March,...
https://www.workboat.com/news/offshore/offshore-oil-and-gas-recovery-fighting-stiff-headwinds/