Gulf states immune to price slide

WHILE the US rig scene continues to follow the decline of the 2008-2009 oil price crash, rig operators where the mess started are having a ball after the Saudi Arabia-led OPEC decided not to cut production in November.

Katy Smith, London-based researcher at Douglas Westwood, said the impact of the oil price downturn on the international market was expected to be less severe than expected by the North American market