If you work in the oil industry long enough you’ll also experience your share of ups and downs., We’ve all been here before.
New Data Suggests Shocking Shale Slowdown – Oilprice.com
What does all of this mean? If oil producers are not hiring service firms and deploying equipment, that suggests they are rather price sensitive. The fall in oil prices forced cutbacks in drilling activity. Oilfield service firms in particular are bearing the brunt of the slowdown. Executives from oilfield service firms told the Dallas Fed that their operating margins declined in the quarter.
roughly 53 percent of the oil and gas executives that responded to the Dallas Fed’s survey said that the recent drop in oil prices caused them to “lower expectations for capital spending” in 2019.
Nick Cunningham
– yahoo
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