- - Oil prices hit a 13-year low of $26 a barrel in February 2016 and ended the year over $50 a barrel.
- - Dealmaking in the U.S. oil and gas sector rebounded strongly in 2016 as mergers and acquisitions activity hit $69 billion, more than doubling the total of 2015.
- - Major oil and gas operators eliminated over 16,000 jobs between April and June, but by the second half of 2016, industry job postings were on the rise.
- - U.S. rig count totals bottomed out at 404 in May and ended the year near 600.
- - A February report by the International Energy Agency (IEA) says that shale will be back on top by 2021.
- - There were 70 E&P bankruptcy filings for 2016, totaling $56,823,737,743.
- - OPEC members and some non-OPEC producers agreed to cut production.
2016 Year in Review for Oil & Gas
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