You know what will be next if it stays below $35 for more than 2 weeks. Winning in any environment will not fly anymore after all this c-ap Transformation they were championing!
Prepare for the second wave.
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Sad to retire (or get pushed out?) and still be trolling lay-off sites five years later.
If you retired well you wouldn’t be thinking about the price of gas. I never think about it - whatever it is, is what it is
I retired financially well in 2016. These low oil prices are not good for the industry, but help the US economy in general. The low gasoline prices are great for me and millions of Americans. I just think WTI is a big too low right now and I hope we can see a stable price around $50/barrel.
Chevron "WON" in the 3rd quarter by LOSING $.12/share while Shell EARNED $.24/share...
All this was planned before COVID. However, COVID has compounded it.
Layoffs will keep happening
3rd. layoff for me. I figure this sh–show has bought us 6 months to a 1 year before the next one.
And people still can't comprehend that COVID and oil prices are linked! Want to see the economy get worse?? Keep voting for the same ol BS...
Analysts are projecting below $30 and mid $20s for Q4 and first half 2021 due to lack of direction of a vaccine.
WallStreet is finding other companies and industries with 3,4 & 5% dividend payouts and likelihood to increase in future vs & O/G super majors risk to suspend and cut dividend payout.
WallStreet is looking for Energy Industry to contract (already down 15% since March) in the in-term with requiring Super Majors to merge in 2021 and CVX being the target.
Oh I hope so. After the cr@p deal I got to stay, I’d rather see a sever package and go find another job!
We will see if he was just bluffing or keep his words, I doubt he would. Still another 10 to 20% might need to be let go.
If you watch MW’s interview on MSNBC a couple weeks ago and pay attention, you’ll see that they figure $30/bbl as the new norm for looking ahead and budgeting. $35/bbl > $30/bbl