Home / Microsites / Global and Regional Markets (page 20)

Global and Regional Markets

Monster downturn may dictate big changes ahead

By Linda Hsieh, Editor & Publisher We’ve always known that this industry was cyclical. There are good years, and there are bad years. But the downturn that we’ve seen over the past eight to nine months has been another kind of monster altogether. This was no normal downturn, and we’re starting to see that the recovery – happening amid the biggest economic slowdown since the Great Depression – may not play out the way it has in the past, either. It will likely require organizations to do things differently than what they’ve always done. In a survey conducted by EY in June and July this year, 92% of oil and gas executives said their organization will have to change the ...

Read More »