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Stock impact report

Oil prices turned negative. Hundreds of US oil companies could go bankrupt [MSN Money]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: MSN Money
The American oil industry is facing a doomsday scario.© Daniel Acker/Bloomberg/Getty ImagThe coronavirus pandemic has caused oil demand to drop so rapidly that the world isrunning out of room to store barrelsflooded the world with excs supply.Load ErrorThat double black swan has caused oil pric to collapse to levels that make it impossible for US shale oil compani to make money. US crude for May delivery turned negative on Monday -- something that has never happed since NYMEX oil futur began trading in 98. It was easily the oil market's worst day on record.US crude for June delivery is still trading above $0 a barrel — but ev that's disastrous."$0 is already quite bad, but once you get to $0 or ev $0, it's a complete nightmare," said Artem Abramov, head of shale rearch at Rystad Energy.Many oil compani took on too much debt during the good tim.Some of them won't be able to surviveIn a $0 oil vironmt, 5 US oil exploration and production compani will file for bankruptcy by the d of 0, a Show less Read more
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