Oilprice.com journalist Nick Cunningham found some very interesting information collected by the Dallas Federal Reserve Bank. In a recent anonymous survey of US oil industry executives, the survey found that 41 percent of all firms expect to cut spending in 2020, while 34 percent expect to increase capex. The vast majority of companies are basing their 2020 budgets off of a WTI price between $53 and $56 per barrel. The responses on breakeven prices were also revealing. Only 41 percent of companies said that they could breakeven at $50 per barrel, while another 40 percent said they need prices above $55 per barrel. In the comments section, there were a handful of themes that respondents kept circling back to: the lack of access to capital markets, financial struggles and consolidation in the services sector.