oil glut

In 2020, the U.S. trucking industry was turned on its head by a pandemic and an oil glut that forced many small fleets and owner-operators to cease operations or file for bankruptcy protection. Others cited legal woes as the main reason to file Chapter 7 or 11 this year.

Darren Prokop explores the reasons for the huge drop in oil prices and what the ramifications are because of the drop.