Shell (NYSE:SHEL) plans to cut 20% from its oil and gas explorat

Avalon - Shell (NYSE:SHEL) plans to cut 20% from its oil and gas exploration and development workforce, as CEO Wael Sawan widens his cost-saving drive after deep cuts in renewables and low-carbon businesses, Reuters reported Thursday.
The restructuring in the exploration and wells development and subsurface units will see hundreds of job cuts around the world, and will be felt especially at its offices in Houston and the Netherlands, and to a lesser extent in the U.K., according to the report. More oil then they can sell at high prices now, making it scarce is good for Shell bad your consumers.