Posted on 11/24/2015 7:44:46 AM PST by bananaman22
Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel.
That spells more pain for the energy sector. Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb.
According to Graves & Co., an industry consultant, oil and gas companies have laid off more than 250,000 workers around the world, a tally that will rise if oil prices remain in the dumps
(Excerpt) Read more at oilprice.com ...
C’mon people
We got to get WW 3 really rolling in the middle east to spike the oil market and save the global economy
We are near capitulation. Then, the Saudi’s will have their market share and start to cut their production. Once the right playas have been told to make their bets to go long on crude...
Where's he been? We've been seeing it already.
Already started. Baker Hughes had some layoffs last week. The month before several exploration companies like EOG let go all their senior (high salary) engineers and kept the fledglings.
Man, oil is a brutal industry. I’m in construction, we engineers have it a lot better at having level employment than petro guys.
Hells Bells, it's been happening all year long!
Diesel $ 2.00
1,300 US Drilling rigs stacked, no contracts.
Bakken is limping, too. Son in Minot is really struggling to keep his business going.
North Dakota has a bunch of money for road construction hat has kept my boss and me going. Currently in Killdeer awaiting the new project to start
Thackney was right! ;-)
So, was the low oil price gig the last trick from the bankers’ hats? Can they continue loaning money from funny investment funds to weaker producers forever and ever? One thing’s for sure. It was more exciting and befuddling than Helicopter Ben’s moves!
Oops, waiting in the wings to run again will be Abortion Barbie in 2018.
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