Oil company bankruptcies down with prices above $50 a barrel

A new report says 20 North American oil producers have filed for bankruptcy this year, which is less than a third of the number that did so during 2016, according to the Houston Chronicle. Citing data from Dallas law firm Haynes and Boone, the newspaper says the amount of debt involved in oil-producer bankruptcies stands at $5.6 billion this year compared to $56.8 billion in 2016. The Chronicle says oil company bankruptcies surged in the first half of 2016 when crude oil prices hit a dozen-year low of around $26 a barrel. For more, read the full story.

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