Supply and Demand

More major projects are being put on hold due to the oil price plunge. More job cuts on the way.

With the oil price at the its 14 year low, demand will go up. At this current oil price, oil producers need to increase production volume to maintain their revenue and sustain their operations. This will further reduce oil price further. Not until, the oil production will be reduced that an oil price increase will be realized. While that will not happen overnight, more job cuts will be experienced.

4748 = 4742 = 4750

About the Author

Ver Pangonilo

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) – Australia and Professional Electrical Engineer (PEE) – Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).

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