Companies like Denbury Resources (NYSE: DNR) , California Resources (NYSE: CRC) , and Baytex Energy (NYSE: BTE) could be among those most deeply impacted because all three still have a mountain of debt to address. In fact, demand was remarkably strong in the second quarter, increasing by 2.2 million barrels per day (BPD) versus the year-ago period. Several factors are driving this decline, including warmer winter weather and the more than 20% recovery in crude, which will push gasoline prices higher and curb some demand.