Data Analytics Provides Edge in Oil Industry Downturn
rigzone | August 24, 2016
The energy economy has been patchy in 2016. The glut in crude supply is ever-present, and refinery margins are narrowing with increased fuel production. The associated drop in the price of crude and refined products has resulted in the loss of a quarter million jobs, with corporate earnings in sharp decline. Industry observers predict it will take years for oil prices to rebound anywhere near the decade’s earlier price of around $100 a barrel.