Massive surge in US oil bankruptcies over second quarter

THE SECOND quarter of 2020 saw a surge in bankruptcies from the US onshore and offshore energy sector, with nearly US$39 billion of debt brought before Houston’s bankruptcy court – more than triple the amount in the first quarter.

20 July 2020
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The collapse in oil prices, the softer gas market, and an oversupply of oil due to the COVID-19 pandemic which restricted travel and movement, has dealt a US$50.

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