Oil rig workers have gone on strike this morning due to overdue pay dating back almost a year. The workers, who are employed by a third party agency, report that they have not been paid for "many months." The agency, who wishes to remain anonymous at this time, reports that the company has not parted with the funds to pay its staff since August of 2018. The agency reportedly kept up with payments to their recuitees for several months in hope that their client would finally cover the pending amount. We spoke to Mr. Galleon, a rig builder currently on strike:
I won't name the company in question at this moment, but I can tell you that it's a big one. They're clearly not short of money so we don't understand why this is happening. These people are here risking their lives every day and can't even send enough home for their families to cover their bills. It's unacceptable. We have all vowed not to return to work until every penny owed is paid to each one of us. We stand united.
Our analysts believe that if this issue is not resolved quickly and fairly, it could negatively impact oil investments worldwide as well as the possibility of oil price spikes mostly around Europe.
So far, the oil market(s) have remained stable, but investors are advised to keep a keen eye on the developments of this story.