Oil price fall below budget estimate dims hopes of marketing agencies recovery

Here's a rewritten version of the sentence in a more formal and professional tone:

"The decline in oil prices below budget estimates has dampened expectations of a swift recovery for marketing agencies, which had been relying on a more optimistic outlook to revitalize their operations."

Here's a breakdown of the changes I made:

• "oil price fall" becomes "decline in oil prices" to make the language more formal and precise.
• "below budget estimate" is rephrased to "below budget estimates" to make it clear that the estimate refers to a specific budget.
• "dims hopes" becomes "dampened expectations" to use more formal language and to make the sentence more concise.
• "marketing agencies recovery" becomes "recovery for marketing agencies" to make the phrase more formal and to clarify the subject of the sentence.
• The sentence is reorganized to improve its clarity and flow, with a focus on making it more readable and understandable.