Low oil prices is 'a train wreck in full speed': Parsley Energy CEO [Yahoo! Finance News]
PARSLEY ENERGY INC (PE)
Last parsley energy inc earnings: 2/19 04:15 pm
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Source: Yahoo! Finance News
Oil prices CL=Feconomy shrank by 6.8%Parsley Energy PEEarlier this week, theOPEC-plus cartel reached a deal“ is a 30 million barrel per day demand shock,” said Gallagher. “A global pandemic requires a global response. OPEC already took a stab at it... They pressed pause on their price war. Now Texas should lead, and other states should follow, in temporarily prorating production. It is clear that action across the globe is needed and the time to act is now.”What Gallagher is referring to is Parsley Energy’s call for the state of Texas to issue an oil production cut, a step that has not been taken since the 1970s. The Railroad Commission, which oversees Texas’ oil and gas industry,discussed the proposal earlier this weekWorkers extracting oil from oil wells in the Permian Basin in Midland, Texas. Photo by Benjamin Lowy/Getty Images)The risk of rising unemployment was a major sticking point in the hearing.Parsley Energy argued that failing to enforce production caps could put jobs at ri
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