Major Oil Producers Report Negative Second Quarter Results
The oil industry is one of the many different industries which has been hit hard by the COVID-19 pandemic. A reduction in travel demand, along with production disputes between OPEC and Russia earlier in the year meant there was a massive supply of oil with effectively no demand.
While things have begun to stabilize elsewhere, newly released second-quarter reports show just how devastating these setbacks were.
Royal Dutch Shell reported a massive $18 billion loss in the second quarter, ...