It's been a bad couple of years for people trying to make a living in the oil business.
Crude awakening: At least 58 U.S. oil companies have gone bankrupt this year
Quote:
|
At least 58 producers have fled to bankruptcy court this year, representing about $50.4 billion in debt, far above last year’s $17.4 billion debt accumulated from the 44 companies that filed for bankruptcies. And despite an uptick in oil prices from a 12-year low of $26 a barrel in January, more bankruptcies are expected to arrive this year.
|