Avery Schumer
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Avery Schumer in Commodities,

Oilfield Services In 'Survival Mode'

Oilfield service companies are "slashing costs," and "no cut is too small," The Wall Street Journal reported.

Oilfield service companies are looking to reduce costs anywhere and everywhere, even by changing the color of paint on underwater equipment.

The industry as a whole has seen tens of thousands of layoffs, while behemoth firms join forces to create much needed synergies.