You are Trying to View a Premium Article

Daily News You Can't Find Anywhere Else

Oil Market: Where is the Bottom?

oil_gas_production

Industry Segment: Production | Word Count: 1107 Words
Attachment: Oil & Gas Capex Decline

SUGAR LAND--March 30, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--March was a cruel month for Oil & Gas producers, their investors, their suppliers and their employees, and the worst may be yet to come. Hammered by collapsing demand triggered by the COVID-19 pandemic and an oil market flooded by Saudi Arabia and Russia, crude oil prices fell 50% during March. Although the oil industry was designated as an "essential" business for the COVID-19 outbreak, a designation that is expected to keep their employees on the job, weakened demand and rapidly filling storage means rig laydowns and job cuts are expected in the near future.

Companies featured: Barclays plc (NYSE:BCS), Goldman Sachs Group Incorporated (NYSE:GS), Exxon Mobil Corporation (NYSE:XOM), Royal Dutch Shell Plc (NYSE:RDS.A), Occidental Petroleum (NYSE:OXY)

This Premium Article can be purchased individually or as part of a subscription

Subscribe Now! All Fields Required...

Subscription Type: Pricing Help?

  • Pay-Per-Article - $5.95
  • Annual Subscription - $235.00
  • Annual Subscription with Archive - $395.00