Crude Oil Price War Roils Markets, Leads Some Firms to Cut Capex
SUGAR LAND--March 11, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Crude oil prices recovered some of their recent losses on Tuesday, but the factors driving that collapse--an over-supplied market, weak or no near-term global demand growth and a price war triggered by Saudi Arabia--suggest matters could get worse before they better for U.S. Oil & Gas Producers.
Within this article: The latest on the global oil market
Companies featured: Marathon Oil Corporation (NYSE:MRO), Exxon Mobil Corporation (NYSE:XOM), Occidental Petroleum Corporation (NYSE:OXY), Diamondback Energy Incorporated (NASDAQ:FANG), Parsley Energy Incorporated (NYSE:PE), California Resources Corporation (NYSE:CRC)
