Sad Song Continues in the Oil & Gas Market with No Fast Relief In Sight (Photo by David McNew/Getty Images)

Sad Song Continues in the Oil & Gas Market with No Fast Relief In Sight

Oil prices continue to hover around $40 per barrel, and market forecasters and some recent industry data don’t point to any dramatic increases over the next 12-18 months.

That’s not particularly great news for any electrical companies that depend on business from the various U.S. oil & gas patches, where drilling activity is down in many areas by 40% to 60% year-over-year. About the only good news on the horizon in the oil & gas industry is that prices aren’t expected

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