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Analysts: Massive oil layoffs in Norway to come in 2016

The US offshore supplier National Oilwell Vargo laid off 900 employees Monday and this was just a fraction of what can be expected at the beginning of next year, says oil analyst at ABG Sundal Collier to Norwegian newspaper Dagens Næringsliv.

Photo: Marit Hommedal - Statoil

A Monday such as yesterday, where the price of one barrel of North Sea oil came dangerously close to USD 40 and where the US offshore service company National Oilwell Vargo announced the firing of 900 employees in Norway, represents just one example of what we will be seeing next year, says  John A. Olaisen, oil analyst at ABG Sundal Collier.

"It will be dark as night next year," he says to Norwegian media Dagens Næringsliv (DN).

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