Ten signs the oil industry is bent out of shape

- The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.

International crude oil prices have lost about 45% this month and fallen below the cost of much of the world’s production, causing energy companies worldwide to slash spending by tens of billions of dollars.

davidgaffen Petrol is 70% cheaper here, goes to show how much we are being exploited

davidgaffen We bout to have 99 cent gas again?

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Layoffs and furloughs are coming to the oil industry, experts warn - Business InsiderThe oil industry is bracing for a wave of layoffs in the wake of a historic oil price shock, which sent the price tumbling by 60% this year.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »

Black In Business: Celebrating The Legacy Of Black EntrepreneurshipAfrican-Americans have played a key role in shaping the U.S. business landscape. I use internet to play LoL. Quote of the Day: You are FakeNewsMedia
Источник: Forbes - 🏆 394. / 53 Прочитайте больше »

Energy market investing outlook from experts amid coronavirus, oil plunge - Business InsiderAs energy experts come to grips with the 'black swan' coronavirus and plunging oil, 4 of them share their outlook for the struggling industry — and assess the economic fallout
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »