Worried that your project might be the next one canned due to the current oil slump?
Closing 2014 oil prices were 49% in decline and if this continues it could reach the all time low we saw in 2008 where oil dropped 67%.
The infographic below shows the big drops in oil from 1988 to 2014, and according to the data there’s still hope.
Although the longest recovery time was 157 months in 1990, there are also some short recoveries like the 1996 fall that took 23 months to drop and 9 months to recover.
The future trend of oil is unpredictable. So let’s hope that oil trend get back to normal so projects stay profitable.
The infographic below will guide you through the historical comparisons of the major oil drops.
Courtesy of: Visual Capitalist
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