Oil Market Rolling Over Into Bear Market, Worst Case Scenario For Oil Income Investors Playing Out?

Oil prices are rolling over (again) as many Eu countries go into a 2nd round of lock downs. Demand for gasoline, jet fuel, plastics and other petroleum products has not returned to anywhere near pre-pandemic levels so it was predictable that oil prices might roll over again back into a bear market and income investors relying in dividends or distributions (from MLPs) throughout the oil value chain might be hurt badly if oil prices roller over from the $40 trading range since early June.

Track oil prices here: https://oilprice.com/ or here: https://www.tradingview.com/symbols/CURRENCYCOM-OIL_CRUDE/

Crude Crashes In Early Asia Trading https://www.zerohedge.com/energy/crude-crashes-early-asia-trading

Articles About Exxon Mobil's Problems:
1) Exxon may write off $30 billion of shale assets after historic Q3 loss https://www.worldoil.com/news/2020/10/30/exxon-may-write-off-30-billion-of-shale-assets-after-historic-q3-loss
2) Houston to Bear the Brunt of Big ExxonMobil Layoffs https://www.houstoniamag.com/news-and-city-life/2020/10/exxonmobil-houston-offices-1900-layoffs
3) Exxon to cut 14,000 jobs as pandemic hits oil demand https://finance.yahoo.com/news/exxon-cut-14-000-global-172449646.html
4) Big Oil Loses Refining Crutch With Margins Crushed Last Quarter https://finance.yahoo.com/news/big-oil-loses-refining-crutch-080000099.html
5) In Unprecedented Cost-Cutting, Exxon Is Firing 15% Of Its Workers To Keep Dividend https://www.zerohedge.com/markets/exxon-firing-15-its-workers-keep-dividend
6) Crude Awakening: Exxon Mulling Global Job Cuts https://www.zerohedge.com/energy/crude-awakening-exxon-mulling-global-job-cuts

Newmont CEO Trumpets Rising Free Cash Flow on Higher Gold Prices https://www.barrons.com/articles/newmont-ceo-trumpets-rising-free-cash-flow-on-higher-gold-prices-51604066863

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