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Tag Archives: global oil markets

Bristol Compressors to lay off about 120 employees

Image courtesy of Bristol Compressors

BRISTOL, Va. (AP) — Bristol Compressors says it plans to lay off about 120 employees as part of a restructuring plan. Local media outlets report the company made the announcement Monday. Bristol Compressors CEO Ed Gniewek said in a statement that the cutbacks are due to lower global oil prices and budget cuts by the oil producing governments. Workers have ...

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Oil prices to recover into 2016 – Reuters poll

The current price of gasoline is shown on a gas station sign in Encinitas, California August 4, 2015. REUTERS/Mike Blake

Oil prices have fallen too far, too fast and should recover gradually over the next year as supply growth slows and demand recovers, a Reuters poll showed on Tuesday. Benchmark North Sea Brent crude is likely to average $62.30 a barrel in 2016, up from an average so far this year of around $57.60, the monthly survey of 30 analysts ...

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