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Panagis Zissimatos’s Prediction on the Rise of Oil Shipping Pricing after Saudi Oil Attack

2021-07-23 01:43:22 Industry


Panagis Zissimatos, the most respected figure in Greek’s maritime industry, predicts what will happen to the oil industry in the future, following the recent attack on Saudi’s oil facilities earlier this week. The attack by the Houthi tribe has brought a domino effect to the world’s oil market. It then drives up both the oil prices and its shipping throughout the world.

Following the Saudi oil attack, consumers can expect to see the increasing price of gas and oil with the estimation of 5 cents, even more. The jump of the price is even predicted to increase as high as a quarter per gallon for this month. Not only that but it also predicted that the world’s oil shipping price will also increase. That is the bad news for most people in the world who still rely on the existence of oil and gas for daily use. Panagis Zissimatos said that the attack on Saudi’s oil facilities affects the oil production which also gives impact to the shipping price of the commodity.

According to Cpt Panagis Zissimatos, the attack causes a decreasing amount of oil produced by Saudi. Meanwhile, the demand for Saudi’s oil in the world keeps increasing. As a result, the situation leads to the increasing price of Saudi’s oil as well as the shipping costs. The legendary Greek shipowner Panagis further suggests that the latest attack on oil facilities in Saudi might also change the routes of oil shipping. The oil shipping security level will also be increased. This will also escalate the shipping price charged to the oil companies.

Additionally according to the information of Panagis Zissimatos, the treats to the Saudi’s oil industry will not stop here. He further suggests that preventive actions should be taken so that the security of the oil producers in the country could be protected. In this way, the oil pricing as well as the shipping costs can be maintained on the normal levels which later beneficial for the world’s maritime industry.

About Panagis Zissimatos

Panagis Zissimatos comes from a Greek family with a strong maritime tradition. Just like all of his ancestors, Panagis started his first sailing at the early age of 14. His family has run oil company with main concern on oil transportation to the maritime market around Greek and Mediterranian. He also holds a master license from a distinctive maritime college in Greek and has sailed with most types of vessels. With years of experience in the maritime world, Panagis Zissimatos is considered a legend in Greek’s maritime industry.

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