Motoring Discussion > US oil prices turn negative Miscellaneous
Thread Author: henry k Replies: 19

 US oil prices turn negative - Falkirk Bairn
I have 2 sons who are engineers within the oil industry, a consulting engineer and the other a reasonably senior manager.

5,000 miles apart but both are involved in cut backs - maybe 25% job losses in one company and probably more in the other and that assumes oil prices rise soon.

The US based son has seen his department capital expenditure (15% of the worldwide capital expenditure budget) cut from $3m / day to roughly $2m / day and that was 2 weeks ago - further cuts are bound to follow with prices in free fall. Major lay offs of contractors and company staff to follow soon.

Redundancy, early retirement will take some of the numbers but they cleared out many 55+ year olds a few years back so not so many left - so 50+ might be the next lot.

 Messages Author Date
 US oil prices turn negative new henry k 20 Apr 20 20:43
 US oil prices turn negative new Robin O'Reliant 20 Apr 20 20:50
 US oil prices turn negative new Lygonos 20 Apr 20 21:13
 US oil prices turn negative new sooty123 20 Apr 20 21:15
 US oil prices turn negative new legacylad 20 Apr 20 23:27
 US oil prices turn negative new smokie 20 Apr 20 23:57
 US oil prices turn negative new legacylad 21 Apr 20 00:36
 US oil prices turn negative new Bromptonaut 21 Apr 20 08:18
 US oil prices turn negative new smokie 21 Apr 20 09:26
 US oil prices turn negative new legacylad 21 Apr 20 12:29
 US oil prices turn negative new henry k 21 Apr 20 12:59
 US oil prices turn negative new CGNorwich 21 Apr 20 14:45
 US oil prices turn negative new tyrednemotional 21 Apr 20 15:25
 US oil prices turn negative new Zero 21 Apr 20 16:02
 US oil prices turn negative new CGNorwich 21 Apr 20 20:28
 US oil prices turn negative new Zero 21 Apr 20 20:57
 US oil prices turn negative new smokie 22 Apr 20 00:59
 US oil prices turn negative new Duncan 21 Apr 20 22:19
 US oil prices turn negative new Rudedog 22 Apr 20 08:47
 US oil prices turn negative new Falkirk Bairn 22 Apr 20 08:58
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