Oil prices not high enough to stimulate offshore orders: Despite oil priceshaving rebounded 16% from an Aug 26 bottom, they are not yet high enough to stimulateoffshore orders. Indeed, oil prices are currently just 47% of the level they averaged over2011-2014, a period when oil firms were highly active in placing offshore structure orders.Also, international forecasting institutions (such as the EIA and global investment banks)have been cutting their oil price outlooks. In the drilling rig segment (which is the mostsensitive to oil prices among offshore structures), deliveries are still being delayed andorders cancelled. Meanwhile, new orders at major shipbuilders remain weak mainly dueto a dearth of offshore orders.