How Long Will This Last

Here is a short part from a Bloomberg news article today. Lots of jobs will be lost in the oil industry. The upside is that you will not be alone.

Saudi Arabia and Russia Dig In for a Long, Bitter Oil-Price War
(Bloomberg) – Saudi Arabia and Russia dug in for a long and destructive oil-price war, as Moscow responded forcefully to Riyadh’s opening salvo.
If there was any doubt that the collapse of last week’s OPEC+ talks created a lasting rupture between the world’s top crude exporters, Russia dispelled it on Monday. Its largest producer will pump significantly more oil next month and Energy Minister Alexander Novak said the country’s share of export markets – under attack from Saudi Aramco’s steep price cuts – will be preserved.

I would never recommend that anyone enter the oil industry as a long term career job.

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@OP, Then why did you, fool?

Assuming electric cars and boats don't become the new norm, oil prices have nowhere to go but up over the long term. It's a diminishing resource, and we are burning through it very quickly.

I wonder when Peak Oil will be reached. That's when prices will start skyrocketing. There can't just be an unlimited supply of oil.

As long as the Hatfields and McCoys had there fued

Oil importing countries like India and China will be the winners

For a while.

4 million bbls of excess supply a day will take a while to recalibrate, more of a u-shaped rather than v-shaped recovery. Make sure your saddle is tight.

At least through the summer.

I heard up to 2 years in CNBC. $25 will be the average price.

Thread regarding Chevron Corp. layoffs

How Long Will This Last

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