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More job losses coming to US shale

If oil prices remain in the range of US$50 per barrel for longer than expected, even big operators such as Exxon Mobil, Chevron and ConocoPhillips could start downsizing their workforce.

Some major oilfield companies such as Schlumberger, Halliburton and Weatherford have already announced close to 20,000 lay-offs as at February 2015.

WITH the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downwards on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, Opec's high production...

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