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Coronavirus and oil price crash has hit global industry like 'perfect storm'

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dailyrecord.co.uk

Coronavirus coupled with crashing energy prices has created an unprecedented “perfect storm” across the global industry.Europe’s oil capital Aberdeen resembled a ghost town yesterday as thousands heeded Government advice to stay at home.A union leader warned that on top of COVID-19 casualties there could be corporate casualties.Jake Molloy, regional organiser of RMT’s offshore branch, said: “This is the absolute perfect storm if you take all the issues around the virus, the complexities of gas prices at an all-time low and oil heading in the same direction.”He warned: “Investors worldwide, as we’ve seen in the stock market, are nervous.

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