
Seriously? I cant understand people nowdays, do you just randomly pluck info from somewhere or make it as you go? Researching about your future doesn't hurt......
Correction 1 - 2017/2018 recession? hard to say, whats your justification? There could even be a recession this year in Asia(technically Malaysia could be entering recession very soon) ---- refer to China - (in Malaysia refer to 1MDB

)
Correction 2 - big asian 1997 crisis fine. 2008! crisis you call mild? really? the effect can still be felt until today!
Like the crazy dude (supersound) who was talking about Libya(the African nation) blaming low oil prices for going bankrupt. Libya is going bankrupt due to oil theft, a civil war, ISIS, kidnapping,bombs......and the list goes on. The last thing that Libya will bankrupt for is low oil prices because their oil production costs are one of the lowest(if you been there you will know why). The country that is still somehow standing and is most affected by oil prices are Venezuela and Russia due to lower margins.
And the problem doesn't end there. Even Natural Gas prices are falling. With Iran's oil pumping full into the market and really demand is not going to rise because face it, vehicles/airplanes are getting more fuel efficient, powerplants are moving to non-hydrocarbon/renewable sources.
The industry will prevail and adjust to whatever the price is.
Like stamp said since this is oil and gas career thread will provide you advice on career, not an expert but speaking from statistics and common sense.
Most resilient sector in the O&G is Production/Maintenance/Operations -------re-skill into this sector because the jobs are still there. Justification - while companies can cut all other budget to save cost P/M&O is their main focus and expenditure for revenue, they might cut headcounts but not as many and they might hire cheaper labor (fresh grads) to replace more expensive ones.
Worst sector Exploration/Drilling -- its just not worth paying so much to drill wells anymore. However if you can re-skill to shale/fracking, whatever people say onshore drilling is still cheaper than offshore drilling and will survive.
Those who are all gloomy about the job markets, well there are lesser jobs now but still many skilled position are hiring internationally. Do not do just one job for all your life. like ch_teo said build different engineering skills and experience.
Kudos to you sir! Being positive is what we need right now. Its different from being denial about the current state of the industry. Still if the industry fails we as a human has come a long way to achieve what we have right now. Like when mining industry shifted to operation like drilling oil (my lecturer in University told me that most of his colleagues came from coal mining industry). We can adapt, but doing what we like (eg: OnG) is something that worth fighting for, or dreaming for. Just look at the brightside of these issues and we will find our path. One way or another.