Oil price is a symptom of some other underlying problem. During $100+ oil the problem was that supply couldn't satisfy the market (mostly due to Chinese growth

Oil price is a symptom of some other underlying problem. During $100+ oil the problem was that supply couldn't satisfy the market (mostly due to Chinese growth and demand for energy). This raked the price up not just for the Chinese, but for everybody. Which was bad if your factory needs oil to produce your widgets: higher production cost leads to either thinner margins (and hence less future investments) or higher prices (and hence lower demand and ultimately - thinner margins). So ok, the oil companies invested in expanding capacities, built refiners, oil rigs, etc. to satisfy demand. But now the world doesn't need as much of it as it used to. Well, shit. That means you still have to pay off loans for your new and shiny oil rigs, but you can't sell as much oil as quickly. What does that mean? Thinner margins. Ad nausem.