Latin American national oil companies need crude prices to surpass $55 per barrel to break even, a level that would allow them to invest capital enough to start reverting declining output, according to credit rating firm Moody’s Corp. Moody’s expects credit quality to remain weak for these oil companies through at least mid-2017, with persistent risks that include falling production, short-term debt maturities, asset sales and cost cuts, according to a report released on Monday. The report, which included ratings for 14 companies operating in Latin America or related to national oil companies, says the recent oil price rally will offer “minimal relief” from the stress […]