Lower oil price means lower income and service and expense cost in oil industry and all other related industry to the oil market, from food till processing and high-tech, retail, auto...
Thinking that much sharp decline in oil price is a gift to people and world is childish, if this price continue to be here, brace for global chaos and economy collapse.
Over a 10 year period the stock has steadily declined ... https://finance.yahoo.com/quote/SLB/history?period1=1290556800&period2=1543017600&interval=1mo&filter=history&frequency=1mo.
Yes there have been spikes but the general trend is downwards. It is amazing the number of company acolytes who still believe that shares will always go up....history seems to contradict this view.
The USA wants lower oil prices, Saudis willing to pump more to comply and shale oil pumping like crazy. There’s going to be a lot of oil people out of work during the next year or two. The game is over except for people willing to work for low pay.
With Trump supporting the idea of cheap oil and tweeting "Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!" I think this is a concern for Schlumberger. Oil may go lower maybe a lot lower?
We all goin down Bubba
Got yourself positioned for a good package. That’s all that counts now
The only people who thought oil would go up forever were the die hard company cheerleaders and the top management. I find it incomprehensible that VPs on mega salaries did not see this coming...however they did Bach Engage to Excel so that should have been a warning.