The phrase "oil downturn" refers to a period of time when the oil industry experiences a significant decline in its activities and profitability. Full definition
In late 2016, Bentham and his team sensed a structural change was afoot in the energy market — something more profound than just another ephemeral oil downturn. (fortune.com)
«Texas has more economic diversity than it did in the last oil downturn,» said Nick Samuels, a vice president and Senior Credit Officer at Moody's Investor Service. (cnbc.com)
Even as the recent oil downturn hit and once again set their Calgary base into retreat, the company added customers and increased overall sales. (canadianbusiness.com)