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Bank Survey: Brexit May Stabilize Oil Recovery

A new survey of some of the largest investment banks should give market stakeholders hoping to see steady oil pricing above $50 per barrel through next year a sigh of relief in a post-Brexit world.

The Associated Press

‘Unsustainable Markets’: Texas Oil Giants Slash 14k Jobs in 2016 so Far

Two of the largest oilfield services companies in the world announced a combined workforce reduction of 14,000 in the first quarter of 2016 as crude prices remain soft amid disagreement among international producers to cap production levels. Executives have signaled concern of additional layoffs in the months ahead.

Texas Oil Giants Continue Layoffs

Oil Bust Tanks More Texas Jobs

The continuing weakness in the oil and gas sector has caused the ax to fall on another energy giant. Chevron announced they will lay off 1,500 employees worldwide. Nearly one thousand of those oil bust job losses will come directly from Houston.


Ex-Im Bank Crucial to Clinton Crony Capitalism Faces Closure

The Export-Import Bank generates headlines because, after more than three-quarters of a century, it is about to go away. But it won’t go away if Democrat presidential candidate Hillary Clinton, and Republican Senator Lindsey Graham, can do something about it.


Texas Oil Giant to Lay Off 9,000 Workers Across Globe

HOUSTON, Texas – Nine thousand workers are set to be laid off by Texas-based oil giant Schlumberger. The oil tool services company said it must fire 9,000 workers because of plummeting crude oil prices and a slow-down in 2015 production and exploration. The employee reduction comprises about 7.5 percent of the company’s 120,000 global labor force.

AP Photo