Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning and afternoon.

Good morning. Today is Wednesday, January 17th. I'm your host for today,

Rina Sherbal, filling in for Julie Morgan, who will be back next week. Is the

oil market heading for a supply crunch? Search giant Google to lay off more workers, and Boeing shares fall after

collision at O'Hare.

Occidental Petroleum CEO Vicky Holub said on Tuesday at the World Economic Forum in Davos, Switzerland that the global

oil market could be heading for a supply crunch starting in 2025 if exploration activities

continue to fail to keep up with demand.

According to Holub, U.S. oil companies in particular have shifted away from exploration since 2012

and focused instead on tapping shale oil reserves which have a much shorter lifespan

than conventionally produced oil. Halliborne that the market will move from

near-term oversupply to a long period when the world will need more oil.

I-N-G analysts said that increased Middle East tensions pose supply risks for crude oil and liquefied natural gas,

but analysts wrote, quote, we are not seeing any fundamental impact on supply yet.

In order to see oil prices breaking significantly higher, we will need to see even further escalation and or a meaningful loss in oil supply."

End quote.

Search Giant Google will fire several hundred workers from its advertising sales division

according to a memo sent by its chief business officer to staff on Tuesday

which was viewed by Business Insider. The layoffs are part of the company's

strategy to change how the sales team operates.

Google has been moving more employees to its customer solutions team, which serves medium-level clients

from the team that handles larger clients who did not require as many

...