Oil soared on Thursday after a Russian official said Saudi Arabia had proposed that oil-producing countries cut output by up to 5 percent each amid a massive supply glut in the world market that has depressed prices for a year and a half.
The comments initially sent Brent crude LCOc1 up more than 8 percent to almost $36 a barrel and U.S. crude CLc1 up nearly 8 percent, cresting just below $35.
To late to save jobs. It would be pretty funny tho
CLR runs lean & will NOT be having layoffs.
That is very true. Now that all the independents have learned how to operate more efficiently that will be the operating model moving forward, which is a good thing. This industry has always been very wasteful since the very beginning.
uh, mkay.
Regardless it might be to little to late. Even in boom times I think oil companies will run a lean shop moving forward to be prepared for the wild swings in prices.
Thanks for sharing!