The oil industry had a terrible day last week in what one sober business paper described as "Black Wednesday" — likening it to the UK's devastating currency meltdown of 1992.

A series of shareholder rebellions at ExxonMobil and Chevron came alongside a court ruling against Royal Dutch Shell.

The Financial Times now describes May as the month the “weather changed” for Big Oil.

Only seven days ago the International Energy Agency (IEA) said it was time to call time on coal burned without carbon capture and the exploration of new oil and gas fields.