A nightmare scenario for offshore oil ...United Arab Emirates

Russia Today - Economy
A nightmare scenario for offshore oil
source : Russia Today ( United Arab Emirates ) () 72
The offshore oil industry is facing a growing number of impossible challenges, leaving the future of the sector increasingly uncertain. Between low demand, soaring inventories, depressed prices, a global pandemic, and now, hurricane season, it seems a perfect storm is forming around the offshore oil industry. The world's offshore oil market, responsible for 30 percent of all the world's oil production, is facing an impossible set of challenges. With oil sitting at half the price of its yearly high, and doubts forming around the future of demand, in addition to the ongoing COVID-19 pandemic wreaking havoc on the global economy, companie

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