Oil funds scramble to survive

WHILE the oil and gas industry in Australia and globally, has been through its share of booms and busts, this week's crash in US oil set a new record, and analysts are warning the negative prices observed on Monday will have a resounding impact for years to come.

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This week left industry shocked after US benchmark West Texas Intermediate prices fell below zero, at one point falling as low as negative US$38 a barrel.

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