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'They are hurting right now': The oil patch and has been decimated

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Oil prices have dropped over 20% since June.

US crude-oil and gas inventories are at the highest seasonal level in at least two decades, and Saudi Arabia is keeping exports high.

This global supply glut has pushed prices below $40 a barrel, and it's hurting a wide range of industries.

We used Sentieo, an equity-research platform, to search recent company-earning calls for the phrases "oil price" and "oil patch" to see what people were saying.

As you can see, the lower oil price is hurting everyone from hotels to restaurants to retailers.

Scroll through below to see what senior execs at companies across America are saying about how oil is affecting their businesses:

SEE ALSO: Crude oil's 'drain is clogged,' and it's heading into the worst time of the year

Jim Conroy, president and CEO of Boot Barn Holdings

"We again experienced weakness in our ladies boots business, primarily attributed to sluggish sales in regions impacted by low oil and commodities prices."



Chris Nasetta, president and COO of Hilton Worldwide

"Probably the bright spot's the West Coast and the much less bright spot would be the oilpatch, sort of energy patch."



Chris Metz, president and CEO of Arctic Cat

"I knew that we had a very rural-centric dealer base but I didn't realize the impact of oil and gas and gas much, but it's substantial."

"A lot of those workers that count on those sectors to contribute to their income, they are hurting right now. We saw some of the folks in — not competitors but others an industry that have reduced their earnings guidance and what have you that are selling right into that sector — that affects us. That's all I can say."



See the rest of the story at Business Insider

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