Oil prices have endured a stunning decline this year. At one point, WTI, which is the main U.S. oil price benchmark, cratered into negative territory as market speculators needed to pay to exit their positions because they had nowhere to store oil. That implosion in the oil market has put tremendous pressure on finances across the energy sector.
As a result, several oil companies have already filed for bankruptcy while many others are evaluating that possibility. We asked our energy contributors which ones they thought seemed most likely to file by year end. They see the greatest risk for that outcome at Callon Petroluem (NYSE: CPE), Chesapeake Energy (NYSE: CHK), Diamond Offshore (NYSE: DO), and Occidental Petroleum (NYSE: OXY).
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Source: Motley Fool
(April 25, 2020 - 3:20 PM EDT)
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