A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL, a technical advisor to the oil and gas industry.

A new phase of cost management is needed, DNV GL asserts, as nearly three quarters (73%) of senior oil and gas professionals globally are preparing their company for a sustained period of low oil prices.

http://www.offshoreenergytoday.com/report-oil-gas-industry-repeating-past-mistakes/?utm_source=emark&utm_medium=email&utm_campaign=daily-update-offshore-energy-today-2016-01-26&uid=217924

Oil field service personel are the ones most hard hit. oil company employees are last / least affected, just due to numbers and the history

of oil field , boom or bust cycles over the past years.

I doubt most have seen a world wide bust as we are seeing now, but there are new players involved in speculation of futures, needs, avaliable product, etc. Its a guessing game right now, it seems.