BKR - The Daily Drilling Report's Oilfield Almanac And Gazette: November 2019

Introduction

Over the last five years, if you've invested anywhere other than hydrocarbon-based energy or its derivatives, it's likely you've made money. Conversely, energy has been a loser with the biggest losses seen in the OSX, dominated by energy service providers.

Source, Chart by author

Don't beat yourself up if you were among those who were long energy-related issues in 2014, the market turned swiftly, and the safe bet was always that it would rebound. It had as recently as 2008-9.

Source, Chart by author

If you look at 2008-9 as an example,