The dilemma the Gulf faces over low oil prices | GulfNews.com:
"The jury is not yet out on what the adverse effects of sustained low oil prices would have on job opportunities in the Gulf economies. Certainly, expatriate workers are expected to bear the brunt of possible job losses on the back of their substantial representation in the workforce.
Where applicable, private enterprises prefer expatriates over locals for reasons of pay, productivity and performance. Some 17 million expatriates work in the Gulf, and the figure increases to above 23 million by adding family members. This effectively comprises half of the total population in the six-nation grouping.
The statistics are staggering by global standards. Immigrant workers from India alone constitute at least a third of the populations in Bahrain, Qatar and the UAE."
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Saturday, 12 September 2015
Goldman Sachs says oil could fall to $20 a barrel | Business | The Guardian
Goldman Sachs says oil could fall to $20 a barrel | Business | The Guardian:
"The price of oil could more than halve again, to just $20 (£13) a barrel, experts at Goldman Sachs are predicting, a shift which would spell big savings for motorists but cast doubt on the viability of North Sea oilfields.
Homeowners, motorists and many industries would gain although a further price collapse could prompt thousands more job losses in the struggling North Sea sector and could eventually hit Treasury tax revenues.
The value of the benchmark West Texas Intermediate crude has already fallen from $107 last June to less than $44 but analysts at Goldman Sachs forecast another huge plunge in WTI. It last traded at $20 a barrel in 2002."
'via Blog this'
"The price of oil could more than halve again, to just $20 (£13) a barrel, experts at Goldman Sachs are predicting, a shift which would spell big savings for motorists but cast doubt on the viability of North Sea oilfields.
Homeowners, motorists and many industries would gain although a further price collapse could prompt thousands more job losses in the struggling North Sea sector and could eventually hit Treasury tax revenues.
The value of the benchmark West Texas Intermediate crude has already fallen from $107 last June to less than $44 but analysts at Goldman Sachs forecast another huge plunge in WTI. It last traded at $20 a barrel in 2002."
'via Blog this'
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