Wintermar Offshore (WINS) Expects Conditions to Improve in 2021 as Recovery in OSV Industry is Delayed by COVID-19 Impact on Oil Price
In addition, the Company held its first Virtual Public Expose with the attendance of 41 interested public.
- In addition, the Company held its first Virtual Public Expose with the attendance of 41 interested public.
- During AGM and Public Expose of PT Wintermar Offshore Marine Tbk, Managing Director Sugiman Layanto explained that the double impact of COVID-19 and fall in oil prices has delayed the Company's recovery this year.
- Due to the sharp decline in travel and flights, oil demand has fallen significantly in 2020.
- However, with the coordinated response of OPEC to reduce output and sharp cuts in US Shale oil production, the oil price could recover in 2021 and beyond.