90 North American Oil Companies Went Bust In Just 20 Months oilNinety North America oil and natural gas companies have gone under since January 2015. The law firm Haynes and Boone reported earlier this month bankruptcies were driven by historically oil and natural gas prices. The average price of a barrel of oil in July of 2016 was $41.60, less than half the price oil barrels were selling for in the summer of 2014. Oil companies have discharged approximately $66.5 billion in aggregate d
Today In History: January 2 - 2008: The price of oil hits $100 per barrell for the first time. Traders work in the crude oil options pit on the floor of the New York Mercantile Exchange. Crude oil rises to $100 a barrel for the first time in New York, reflecting an industry struggling to find deposits at a time of record demand.