2nd Quarter Worst on Record for the Oil Business

The second quarter was one of the worst on record for the oil business.

Exxon lost $1.1 billion April through June, with revenue half what it was this time last year.

Chevron lost $8.3 billion, while last year they had earned $3.4 billion.

The US oil industry has lost at least 100,000 jobs post-February, 45,000 of those were upstream Texas jobs in oil and gas.

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