Get ready for more pain in the oil sector

From Matt Badiali, Editor, Stansberry Resource Report:

It’s still a bad time to be an oil driller… or any oil-services provider.

The world leader in oil service, Schlumberger (SLB), laid off another 8,000 people in the first three months of 2016. That’s 42,000 total layoffs since mid-2014 – nearly one-third of its staff in just two years.

It has been an epic bust in the oil sector. And yet, Schlumberger shares are up 29% since their January lows. So you might be wondering if it’s time to buy yet…

The answer is no.

You see, the oil-services industry is in big trouble. We can see this by looking at the number of rigs drilling for oil and gas. The “rig count” is a good indicator of the industry’s health.

And as you can see in the following chart, North America’s rig count (471 rigs operating today) is at its lowest…

admin

admin

Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!

-> CHECK AVAILABILITY HERE


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!

<