The U.S. has been dealing with sustainably low oil prices since the start of 2015. In late 2014, oil prices fell from more than $100.00 per barrel to around $50.00 per barrel. Since 2016, oil prices have been on a roller coaster ride, swinging between $27.00 and $55.00 per barrel; that’s a quarter of the (more…)
Oil Has Yet to Recover as Energy Companies Struggle at Current Prices Eagle Energy Inc (TSE:EGL) is looking to shed 16% in costs this year, starting with a significant cut to the CEO’s pay, but may eventually end up with job losses.
Energy XXI Gulf Coast Inc (NASDAQ:EXXI) announced that it is cutting 18% of its workforce in an effort to stem the bleeding as it combats weak oil prices, falling demand, and a global glut of crude.