Oilfield Oil drilling slowdown hits wider economy


Staff member
A downturn in oil and gas drilling is making a small but significant contribution to the overall slowdown in U.S. business investment and economic growth, intensifying the much bigger problems caused by the trade war with China.

The last slump in oil and gas drilling contributed to the mid-cycle economic slowdown in 2015/16, which helped fuel the political discontent that resulted in the election of populist President Donald Trump to the White House.