In a previous article I have written a year ago, I have pointed out that the oil price slump is an irony of life. Pump oil prices have gone down, people are enjoying a full tank of petrol for a fraction of the price they usually pay a couple of years ago. Unfortunately, most people are not aware that hundreds of thousands of families have their bread-winners lost their jobs due to the slump of oil prices.
Oil price is now stabilizing but still below the level most oil producers have expected. The uncertainty of oil prices and its negative after effect is still strongly felt globally. Fossil fuel businesses are not yet willing to spend on new ventures. Jobs are still hanging on a thread that may snap anytime.