From Bloomberg, Oct 22, 2015, 10:28:00 AM
Oil storage tanks sit at the Esso oil refinery, operated by Exxon Mobil Corp. in Fawley, U.K., on Friday, Oct. 2, 2015. A 50 percent drop in crude prices in the past year has hit earnings for oil and gas producers, forcing them to slash capital spending and scale back unprofitable operations.
Oil storage tanks sit at the Esso oil refinery, operated by Exxon Mobil Corp. in Fawley, U.K., on Friday, Oct. 2, 2015. A 50 percent drop in crude prices in the past year has hit earnings for oil and gas producers, forcing them to slash capital spending and scale back unprofitable operations. Crude oil's collapse is bringing back memories of the decade of low prices that started in 1985 when Saudi Arabia began targeting market share.
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