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Moody's: Shipping benefits from low oil price

Major US rating bureau Moody's has lowered its oil price forecast for the next three years and highlights industries set to benefit from the cheap oil. These include the shipping industry.

Photo: Ultragas

While the energy sector is currently bleeding due to the extremely low oil price, the cheap oil benefits several industrial sectors, according to rating bureau Moody's.

Moody's has lowered its oil price estimates for this year and 2016 and 2017, to USD 55, USD 65 and USD 80, respectively.

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