Post Tagged with: "oil rout"

Source: Reuters

Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 billion charge

Reuters


Oilfield services giant Schlumberger NV (SLB.N) on Friday outlined plans for deeper spending cuts after recording a $3.7 billion charge and a second straight quarterly loss on thousands of job cuts and a pipeline outage in Ecuador.…

Source: Reuters

More shale drillers slash production after oil rout slams earnings

Reuters


U.S. shale producers Continental Resources Inc and Callon Petroleum Co on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis sapped demand for fuel.

The historic drop in oil …