The pirates decided to support oil prices

Unexpected support for the oil prices can help the African pirates. This time not Somali and the pirates of the Gulf of Guinea.

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The oil market has faced a new threat — pirates around the world and especially in the area of West Africa have stepped up their activities, creating risks for international oil companies. It is reported by CNBC.

The publication, citing data from the International Maritime Bureau (IMB) notes that the growth of piracy poses a threat to traditional international supply chain. According to these data, in the first quarter of 2020 the surge in piracy has been observed worldwide. A total of 47 recorded cases of armed robbery at sea, which is nine more than in the first quarter of 2019 (38 cases).

On the Gulf of Guinea, a key centre in which oil production is eight exporting countries of West Africa, to date, have 21 attack pirates and 90 percent of all kidnappings in the high seas.

If the complexity of the Maritime transport of oil will continue to grow, it will help to help prices perking up a bit. However, pirates are now more profitable to capture the oil tankers, which is relatively cheap, and the crews, with the aim of obtaining a ransom for the hostages.

However, it is in any case companies creates additional costs and introduces neopredelennosti on the oil market. And because of the fall in oil prices will suffer including African neftedobycha — the same Nigeria, for example, — there is reason to believe that the economic crisis piracy in the region will continue to flourish.

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