MARKET TALK: Impact of oil price on construction

“Lower oil prices have really seen the banking sector going through a pretty significant period of challenge,” says Chiradeep Deb, managing director, head of corporate finance, DCM and Syndications at Mashreq Bank. “We have been at it for the past 24 to 30 months. We have got to a new normal. We believe everything needs to be cut to size [due to] the $50-$60 price for a barrel of oil.”

Source: Mashreq Market Talk