Oil price crash: Saudis told to embrace austerity as debt defaults loom
Kingdom faces a future of higher taxes and low fuel subsidies amid fears the world’s weakest oil producers will soon begin to buckle. Source: Oil price crash: Saudis told to …
Begging for Life
This is a the title on an Al Jazeera network documentary presenting the problems of beggars in the streets in Metro Manila. The report said that “begging is illegal in …
OPEC to discuss reduction of oil production level up to 5%
Saudi Arabia made a proposal that OPEC members cut production by a maximum of 5%. There remains confusion however as Bloomberg reports simply that Russian energy minister has said they …
Why Oil Prices Will Remain Low Longer
Quotes from Karr Ingham speech at the Houston Petroleum Club luncheon on Tuesday. Karr Ingham is a professional economist who lives and works in Amarillo, Texas. He is the owner …
Global Market Meltdown – 2016
At the World Economic Forum in Davos, Switzerland, business leaders have been expressing their thoughts as Brent slides below $30 a barrel. Oil’s slump to a 12-year low is ripping …
Schlumberger Lays Off 10,000 – Oil and Gas News
Schlumberger, world’s largest oilfield services provider slashed 10.000 jobs in the fourth quarter of 2015. The company said that the reason was an expected extended activity weakness in the first …