Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. The Company also has exploration and production activities in countries that include United States, Canada, the United Kingdom, Malaysia, and Ecuador. Murphy Oil has retail operations as well in the United States.
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We are closing in on the two-year mark for the historic drop in crude oil prices.In the span of 2014-2016, the industry has seen the price for a barrel of oil drop from north of $110 to south of $30.This crash has brought about great hardship for the Louisiana oil and gas industry as well as the entire job market within our state. We have seen well over 10,000 jobs lost in Louisiana and over 350,000 jobs lost nationally.In addition to the record low crude oil prices and the vast loss of jobs,
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