Declines in oil prices continue to ripple through the European market, with stock losses especially in the oil and gas sector undermining profit results. When crude oil closed at US$33.14 per barrel, the share prices of the top five European oil and gas companies, tracked by Mergent, declined by an average of more than 8% over the six months to January 29, 2016. At the present time, investors are now shying away from stocks in the oil and gas sector as Saudi Arabia continues to reiterate its pledge to keep oil production high. The strain is being felt right across the sector, with current prices not enough to yield profits for major O&G companies. #MergentInc #industryreports #oilandgas
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