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I would like to know your opinion on this matter, on different aspects of your specialty to understand the impact of this recession on oil countries, to view it more than just one angle.
It really depends on the type of industry you're in.
In marketing & Social Media marketing, work continues since products need to be marketed irrespective of oil prices going down. What changes though, is the options brands choose from, since smaller companies are able to offer better tariffs.
yes it is effect around 65% from all industrial
Yes Of course it will effect or we can say affected already.
yes exactly it effect negative for all...
I think crude oil price effect all business matter but I can’t talking about GCC because I am working at Middle East region
This came out at the very end of 2015. It shows you how low oil prices have a major effect on Middle Eastern economies.
The oil and gas industry has already experienced significant impacts to its labour force since the price of oil started its decline last November. If oil prices continue to remain low , I think there will be additional reductions to spending and jobs before things start to turn around. I feel oil and gas engineering construction firms, which perform the majority of work related to development projects, would expect to absorb the largest share of employment impacts.
I have a same view and opinion of Mohammed Matar's. Thanks
Yes, it will effect all the Countries who produce Oils, it was effected in GCC since last July,2015 but more noticeably effected since November 2015.
it badly caused a collective layoff in the job market.
In addition, another major impact of excessive reduction in Oil price, effected all major other Industries, because the main income of Countries in GCC are from Oil related businesses. if the price goes down, the total GDP also goes down, instead of surplus budget, deficit budget will be the outcome.
Hope, there will be better hike in Oil price soon.
