The oil and gas industry has always been enjoying a high level of prestige. When anyone mentioned that they are working in that sector, straightaway people will know that it comes with at least 3 months bonus. At their peak, some oil companies here give out 8 months bonus which is common knowledge in the market. Now, I heard the standard is only 3 months bonus.
To the consumers, hooray to the falling oil prices! A drop in oil price means some savings in terms of fuel for drivers, for electricity and other resources. There will also be lesser cost for importers and exporters due to lower fuel prices used for ships. Of course, manufacturers will get to save more due to transportation and hopefully, it will translate to savings for the end customers like us.
It left me thinking about why the falling oil prices is causing the market breakdown currently.
In macroscopic views, it is affecting the ......