Crude hit record low since 2010 below $70

new

« Prev
1
Next »

lonestartexas
Member

Posts: 41

Crude hit record low since 2010 below $70 Nov 29, 2014 0:10:49 GMT

Quote

Post by lonestartexas on Nov 29, 2014 0:10:49 GMT

With OPEC met and decided not to lower output the crude oil price iting low and most super major oil producers stock price plummeting 4-7%. The price of oil has been going down since June this year and I suspect it has somewhat impact on the Aramco hiring strategy/process. With the decision made today by OPEC I wonder if offers will be made less or even withdrawn on some cases. curious to hear you guys' thoughts on this.

Shammal
Advanced Member

Posts: 90

Crude hit record low since 2010 below $70 Nov 30, 2014 22:33:42 GMT

Quote

Post by Shammal on Nov 30, 2014 22:33:42 GMT

Last I heard, Aramco's cost to produce oil was less than $10 per barrel. The cost to keep up the kingdom's social programs is another story.
I don't have a guess on the effect Aramco's lower prices will have on hiring, but I was told by my recruiter that the goal for new headcount for 2014 was so high that it was very unlikely they could meet it based on progress of the first half of the year.