Shell, Total and other oil companies have been battered by a more than 75 percent collapse in crude prices over the past 18 months amid a global supply glut. Royal Dutch Shell Plc, Total SA and Statoil ASA, three of Europe’s biggest oil producers, were among more than 100 energy companies whose credit ratings were placed on review for possible downgrade by Moody’s Investors Service. The reviews come after the rating company cut its oil-price forecasts and should for the most part be completed this quarter, Moody’s said in a statement on Friday. Prices may recover more slowly than companies expect and there is a risk they may fall further, it said. “Even under a scenario with a modest recovery from current prices, producing companies will experience much lower cash flows,” Moody’s said. “Today’s review for downgrade considers that much weaker industry fundamentals have potential to warrant rating changes.” […]