Comment on Oil industry leaders already warning of future oil price spike

Oil industry leaders already warning of future oil price spike

By Adam Wilmoth Energy Editor awilmoth@oklahoman.comSixteen months into an oil price bear market, companies throughout the oil patch are cutting workers and struggling to keep their companies afloat. The downturn that many industry observers initially thought would last less than a year now widely is expected to drag on much longer. While this downturn still is far from over, industry leaders and observers already are warning that when the infamously cyclical oil market swings again, energy prices could surge quickly. Domestic oil companies late last year slashed their drilling budgets and mothballed more than half the country's rigs.Read more on NewsOK.com

 

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