WTI is officially below $20/barrel. Sauidi/UAE production/price war with Russia shows no sign of let up. Storage capacity will be a problem. Worldwide demand has decreased by 10mm barrels/day. US production remains high. Honestly, expect WTI to fall to around $15/barrel or lower soon. There is no bottom to WTI crude oil price. It is anyone's guess right now. New Jersey governor just announced a total state stay-at-home order, similar to other states. This has become a cascading problem. I can't believe I am living through this - it seems like science fiction. All of this is happening because China arrested the one doctor who issued a public warning about this and forced him to sign an apology. He later died from this coronavirus. It is just unreal. You better start making immediate plans for the worst. Just look around at all of the businesses that are shut down.
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Actually I don’t think anyone will be laid off. Chevron will get a government bailout and we will all work for the government. No more small businesses, only government owned businesses will survive. This is the new world order.
The Blame is on China because they deserve, earned and own the blame. Please explain why the fact that they hid this from the public for long enough for the virus to spread uncontrollably does not make them responsible. Not to mention their bizarre cuisine and cultural practices which led to the initial infection (reportedly), We'll wait.
Good one, blame it on China that we didn't have our stuff (sic) together for a pandemic. It's bad and it s—s, but get yourself together, chill. You can't think clearly if you panic. Life will go on and there is life beyond Chevron.
Massive layoffs, something not seen before, this economic situation will get worse and stay bad for long time, many companies will not exist next year time, this is such a sad and tragic time, the real blame is for China.
Head count reduction plan is already in place. All the targeted personnel on the org chart are already known. Imminent layoff coming in three waves. Much of the delay is contingent on the details in the 2020 US Government Stimulus Plan, waiting to pass Congressional approval as soon as Monday, March 23. Remember people, it’s not personal, it’s only business. Good luck everyone.
I’m not sure it’s denial so much as what can we really do right now. Oil is no doubt in serious trouble and chevron no doubt has plans to lay off thousands. All we can do make sure our families are safe and work hard beyond that what can I control. Nothing I say or do can change Managements mind if they want to get rid of my group or position
There are many people who are still in total denial that they will lose their jobs, even knowing deep inside that their immediate employment future is in serious doubt.