Boom boom shaka laka!
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Guess what summer is over in the middle east and other large hot regions hence they consume a lot less oil and gas so to announce a reduction in production is just normal. Therefore the amount of spare oil and gas on the market is the exact same. Sorry to pee on your bbq....my opinion this is no longer a downturn this is the way the industry will be forever more open market on market share. And SLB the gap is closing in from all directions BHI HAL WFD GE and then all the small competitors with fish market pricing.
Don't you mean...
Boom boom acka-lacka lacka boom
Boom boom acka-lacka boom boom
It was a night like this forty million years ago
I lit a cigarette, picked up a monkey skull to go
The sun was spitting fire, the sky was blue as ice
I felt a little tired, so I watched Miami Vice
And walked the dinosaur, I walked the dinosaur...
1) there will be a lot less drilling = lot less spending.
2) There is no way Saudi and Iran will stick to this, they. would never tell the truth.
3) There is too much oil and there will be for10 years or more.
Mean it take longer for slb to lay more people off
Sounds shakalaka good news.