Oil producers and their suppliers are cutting budgets, staffs and production goa...
ODESSA, Texas - Oil producers and their suppliers are cutting budgets, staffs and production goals amid a growing consensus of forecasts that oil and gas prices will stay low for several years.
Bankruptcy filings by U.S. energy producers through mid-August this year have nearly matched the total for the whole of 2018. A stock index of oil and gas producers hit an all-time low in August, a sign investors are expecting more trouble ahead. Investment bank Cowen & Co estimated last month that oil-and-gas producers spent 56% of their 2019 budgets through June, based on its review of 48 U.S. companies. It expects total spending this year to fall 11% over last year, based on proposed budgets.
“The service sector I think is going to be flat,” said Superior Drilling Services CEO Troy Meier, whose firm canceled plans to add new machinery.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Billie Eilish Sprouts Oil-Slicked Wings In Demonic 'All The Good Girls Go To Hell'.billieeilish tackles climate change in the hellish new video for AllTheGoodGirlsGoToHell
Leer más »
Iran mocks the U.S. after it reportedly tried and failed to pay off an oil tankerThe U.S. has announced a reward of up to $15 million in exchange for information that could disrupt Iranian attempts to sell oil, but the captain of one blacklisted ship didn't respond.
Leer más »
Malaysia's top supermarket chain bans 'palm-oil-free' products, government urges others to followMalaysia's biggest supermarket chain Mydin has removed products labeled pal...
Leer más »
US offered millions of dollars to captain of Iranian oil tanker for ship's seizure, reports sayThe U.S. State Department has offered millions of dollars to the captain of an Iranian oil tanker suspected of heading to Syria.
Leer más »