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.
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.
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.