The price fall of crude oil, what are the positive and negative impacts it gives to shipping industries?
On this article, we will like to review the oil price of today and it positive or negative impacts it has given to Maritime industries, countries and the world.
Following an interview we carried out with some of the oil producing industries and there workers , the price of oil which fall up to $28/barrel, has automatically brought many oil & gas a set back. According to one of the oil platform worker, he said" we have been on standby for over 9 Months, no contract was awarded to our company and the company has been owing us 10 months salary, many workers left the company with an unpaid salary from July 2015 - till date. "
This set back has spread to the marine offshore vessels in many countries, example ; Nigeria, Angola, etc.
It gathered that, this crisis has cost large number of unemployed and decrease in salaries of both oil & gas industry and Maritime industries . So far, it has been a difficult time to oil producing countries and the world may hit by another financial crisis if no proper solution to the situation.