US oil workers ride out demand drop
A pump jack operating in the Permian Basin near Odessa, Texas. Crude oil extraction in the area has taken a hit after the price of oil went into negative territory because of a decline in demand from the novel coronavirus pandemic. – AFP pic, May 11, 2020.
WAIT for an upturn, or pick up stakes and look for work elsewhere? That’s the dilemma facing oil workers around Carlsbad in New Mexico, where a brutal drop in petroleum prices has hit the local economy hard. Many oil workers in the arid southwestern state have already left the campgrounds where they had parked their RVs, after being drawn here by exceptionally high salaries.
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