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Oil firms adapting to ride out the storm, says E&Y oil expert

Tabrez Khan, director oil & gas transactions at Ernst & Young, says oil companies are starting to base their strategies on a modest price recovery and not a sudden uptick.

Khan, who advises companies buying or selling assets, says there is still big gaps between price expectations across the sector, but companies are now readjusting in a bid toride out the storm.

A barrel of Brent crude currently trades at US$43. In July 2014, the price stood at US$110.

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