Tag "OPEC"
OPEC losing its ability to set global oil prices
The June OPEC meeting should not bring too many surprises, as the cartel’s unofficial leader, Saudi Arabia, will not support production cuts in order to boost falling prices, but will
Despite recent upshots, oil prices will remain subdued
Despite recent gains, oil prices will remain subdued as the oil glut continues to dominate global markets. Increases in US and OPEC oil production will play a big part in
Despite Iran deal, price war will dominate 2015 oil markets
Regardless of the final outcome of Iran’s nuclear programme negotiations, the coming months will see a continuing price war between OPEC producers and the shrinking US shale sector. The recent agreement
Global oil glut could further depress oil prices
With the global oil supply expected to outpace demand in 2015 and 2016, there is a growing risk from an oil glut that might further slash oil prices. The 50 percent
Norway still optimistic over Arctic oil
The drastic fall in oil prices has made petroleum explorations in the Barents Sea seemingly unprofitable. Yet, despite severe economic, technological and environmental concerns, the Norwegian government pushes for increased activities,
OPEC’s influence has long been exaggerated
The nearly 50% decline in oil prices questions the future of the Organization of the Petroleum Exporting Countries (OPEC) and casts doubt on its ability to influence prices. However, the
Five countries most affected by the oil price crash
Since June 2014, global oil prices have dropped by more than 50%. The drop could strongly affect the economic and political stability of these five oil exporting countries. Oil prices
Oil price drop reveals Iraq’s structural problems
“Iraq’s state finances are increasingly vulnerable to a drop in oil prices and the government could have difficulty financing this year’s budget plan.” – IMF Mission Chief for Iraq, 27
Oil sector expected to reduce investment in new projects
Despite the overall benefits for the global economy, the prolonged period of low oil prices is likely to reduce investment in new oil projects, raising the potential for economic and political
Low oil prices bring instability to the global oil sector
A pro-longed period of low oil prices could have long-term consequences for the future of the oil industry and geopolitical stability of some oil exporting countries. Falling oil prices can be
