For the most part, 2016 was a miserable year in the oil and gas industry, as a massive oil glut fuelled by overproduction and a historically slow pace of growth in the Chinese economy conspired to drive oil prices to their lowest levels in 13 years. After touching $26 per barrel in February, however, oil prices have gone on an extended rally, moving above $50 in July on widespread sentiment that the commodity was oversold earlier in the year. Many investors also held the notion that global … [Read more...]
