- The oil industry has been flipped on its head over the last few months as economic shutdowns around the world have caused demand to plummet by around 20%.
- For a short time, oil futures prices even went negative in the U.S. because there was more supply than demand.
- Producers and suppliers in the oil market are trying to cut costs and adjust finances as quickly as possible.
- But not everyone will survive. And Occidental Petroleum (NYSE:OXY), Chesapeake Energy (NYSE:CHK), and Transocean (NYSE:RIG)
https://mfame.guru/oil-companies-foresee-a-poor-future-in-2020/