why layoffs happened in gulf countries a systematic briefing of oil consumption

1. The Jeddah incident

3. Oil prices - down by 70%

4. Bent crude, international benchmark trading around $48.
American benchmark is $46.

5. Why prices are down?
Simple economics of demand & supply.

6. US has 2x its production
Saudi, Nigerian, Algerian oil are competing for
Asian market.
Canadian, russian & Iraqi production is rising year
after year.
OPEC & gulf countries various projects were
delayed.

7. Except dubai & uae
gulf countries economies heavily depends on
export of OIL.

8. There revenues are down
also
new labor policy of middle eastern countries
played a big role in lay-offs.

9. Saudi Oger’s & Saudi Bin Laden group are the main
employers of foreigners.
Bin laden has almost made 90% of royal family buildings.
Burj khalifa, Jeddah tower, royal palace.

10. Due to revenue losses they have failed to pay

11. There are 30 lakh indian passport holders in
Gulf countries alone, almost all of them are
employed by these companies.

12. 1) 77,000 workers were laid off.
50,000 are foreign workers.
10,000 of them are Indians.

13. These 10,000 had no money, no house, no foods
picked up by media exaggeratedly.
Foreign ministry takes actions
request to provide food
airlift happens.

14. CONCLUSION
1) GULF CRISES - IRAQ INFILTRATION – S.ASIANS JOBS ARE LOST.
2) IN 9/11 INCIDENT - MIDDLE EAST COUNTRies.
3) NOW IN 2016, “JEDDAH INCIDENT”, DUE TO FALL IN OIL PRICES
50000 WORKERS HAVE LOST THEIR JOBS & 10000 0F THEM ARE
INDIANS.