The chemical giant suddenly declared bankruptcy

The oil war started in full swing, and the "victim" came. Whiting Petroleum Corporation WLL became the first oil company to decline in crude oil demand due to the weak global demand caused by the new global pneumonia epidemic and the price war between oil-producing countries triggered by Saudi Arabia and Russia. And victims of the natural gas industry.

On April 1, local time in the United States, Whiting Petroleum, headquartered in Denver, Colorado, announced that it had filed for bankruptcy with the court and became the first enterprise to file for bankruptcy because of the oil price war. U.S. stocks opened overnight, the company's stock price plunged 44%, and it has plummeted 95% from a high. The stock price is only $ 0.37.

Huiting said in a statement that the board of directors believes that due to the oil price war, oil and natural gas prices have fallen sharply, coupled with the coronavirus's related impact on demand, financial restructuring is the company's "best way forward."

The data shows that Huiting was founded in 1980. In 2015, the company's stock price was above 150 US dollars, but since then the stock price has been declining. Due to the collapse of international oil prices, Whiting ’s share price has suffered a serious setback again in the past three months. At the beginning of January, the share price was still around US $ 8 per share. Today, only US $ 0.37 per share is left, and the market value has evaporated by nearly US $ 7 billion (about 50 billion yuan) ).