By Justin Spittler
The oil price crash continues to claim victims…and many of them are in Canada.
The price of oil hovered around $100 for most of last summer. Today, it’s trading for less than $45.
Weak oil prices have pummeled huge oil companies. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which tracks the performance of major U.S. oil producers, has declined 36% over the past year. The Market Vectors Oil Services ETF (OIH), which tracks U.S. oil services companies, has declined 30% since last November.