Oil Price News

OMV Might Cut Jobs Due to COVID-19, Low Oil Prices

. It is a possibility we cannot rule out," the company's CEO told Handelsblatt.OMV, which has a global workforce of around 20,000, said its output fell to 472,000 barrels of oil equivalent per day in the first quarter from 505,000 boe/d in the fourth quarter.The average realized crude oil price fell to $46.8 in January-March, from $61 in the three months through December, said OMV, which will publish first-quarter results on April 29. ($1 = 0.9203 euros) (Reporting by Kirsti Knolle Editing by Madeline Chambers and Alexander Smith