Hopefully OPEC will decide to extend cuts till end of 2018 as it is currently priced in as market sentiment. Otherwise, we could see strong crude price pullback, which in turn could deal another blow to already struggling Oil companies.
Some food for thought:
When oil prices crashed to almost $35 a barrel towards end of 2014, oil companies struggled to stay afloat. Many oil juniors went out of business and the big corporations slashed their workforce to cut costs. But simply trimming off workers is never a true solution, since quality and efficiency suffers!
It is better to take a "Lean" look at your organization. Lean principles focus on eliminating waste, reducing costs and increasing profitability. Lean implementations do not need to be hugely expensive or organization-wide. it is surely helpful when entire organization commits to a "reduced-waste with increased efficiency" operating model, but the reality is that each individual department will have its own way to contribute towards the organization's overall vision and goals. Using Lean-Kaizen, we can make a small change for lasting effectiveness and best of all, it does not have to be a multi-million dollar investment.
If you are interested in learning more, feel free to contact me. I do offer a complimentary initial consultation…
When oil prices crashed to almost $35 a barrel towards end of 2014, oil companies struggled to stay afloat. Many oil juniors went out of business and the big corporations slashed their workforce to cut costs. But simply trimming off workers is never a true solution, since quality and efficiency suffers!
It is better to take a "Lean" look at your organization. Lean principles focus on eliminating waste, reducing costs and increasing profitability. Lean implementations do not need to be hugely expensive or organization-wide. it is surely helpful when entire organization commits to a "reduced-waste with increased efficiency" operating model, but the reality is that each individual department will have its own way to contribute towards the organization's overall vision and goals. Using Lean-Kaizen, we can make a small change for lasting effectiveness and best of all, it does not have to be a multi-million dollar investment.
If you are interested in learning more, feel free to contact me. I do offer a complimentary initial consultation…
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#CrushingCrudeRally #OilandGasCompanies #RevivingOilEconomies
