Oil prices collapse could affect offshore rig workers salary

The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) as at 9.04 MSK fell by $ 0.09, or 0.1 %, to 94.24 dollars per barrel. The cost of the September futures for North Sea Brent crude oil mixture decreased by $ 0.04, or 0.03 %, to 116.21 dollars per barrel. On Friday, the International Energy Agency ( IEA) lowered its forecast for oil demand in the world, after which oil prices continued to decline. Fears caused by potential military conflict in the Middle East, supported oil prices this year, despite the worsening global demand forecast.

U.S. Defense Secretary Leon Panetta said Tuesday that while there is time to have worked sanctions and diplomatic pressure, and the United States do not believe that Israel has decided to attack Iran. Petrol will be cheaper and more due to lower oil prices. As you know, the cost of fuel in Ukraine is tied to world oil prices, so the news of its price going down again delight the motorists, because since February gasoline has risen on the hryvnia is due to a jump in prices for "black gold". While in the short term is expected to slow decline in oil prices, Paul Stevens, an expert British institute Chatham House, suggests that only one major event, such as a strike by Israel on Iran over its nuclear program, the prices jumped to $ 200 per barrel.

The global economic recovery is slow, and its pre-crisis level of return still nobody could. However, oil prices and, accordingly, the income derived from its production this year, more than expected in 2008. China's State Administration of Statistics reported reduction in industry PMI index to 50.1 points, which was the lowest level in eight months. Analysts had expected growth to 50.5 points.