With crude getting pummeled, these U.S. oil companies are in the most danger
Oil producers seem to face black-swan events that can destroy demand or greatly increase supply at any time. So far this year the pain is only getting worse.
Early on Monday, the price of West Texas Intermediate crude oil for May delivery CLK20, -57.30% sank as much as 40% to $11.04 a barrel. Meanwhile, WTI for September delivery CLU20, -2.80% traded at $30.53. Investors obviously expect oil demand to bounce back over the next five months. At a time of plunging cash flow, highly indebted oil companies will do everything they can to shore up liquidity, lower production and cut any costs they can.
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