Oil and gas industry finds itself in a tough position

Coronavirus

BELMONT COUNTY,  Ohio (WTRF) Several things are happening at once.

Mike Chadsey, director of public relations for the Ohio Oil and Gas Association, says demand is down.

In the middle of the pandemic, planes are grounded.

With the stay-at-home order, cars are parked in driveways.

At the same time, there’s a market share war raging between Russia and Saudi Arabia.

“So we’ve got low demand due to the health crisis,” explained Chadsey. “But we also have a price war going on right now. And so over the next 30 days, 60 days, we’ll watch what takes place there and how long it takes for the virus to slow down. Those are all things we have to weigh,. But we do know it’s probably going to take a little while to get back on our feet again.”

Chadsey says Ohio Governor Mike DeWine deemed the oil and gas industry an essential service, so they’ve been working all along.

He says the workers maintain safe distancing, do a lot of hand washing and wear personal protective equipment.

He says the industry has dealt with hard times before, and will again.

In his words, “We wish everyone well, and hope we can get back to normal soon.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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