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- Just as sky-high oil prices can trigger recessions, low oil prices can aid recoveries. A massive fall in the oil price is like a global tax cut on businesses big and small. If airlines can survive, and the travelling public return, then they could lock in low prices for their biggest single outlay - fuel.
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Oil prices are strongly influenced by the global economic outlook. Changes in supply and demand and geopolitical tensions cause price fluctuations. An orderly energy transition can protect against oil price spikes.
- Maciej Kolaczkowski
Passionate about role of technology in the energy...
- Oil and Gas
The stories shaping the Global, Regional and Industry...
- Maciej Kolaczkowski
Apr 22, 2020 · Just as sky-high oil prices can trigger recessions, low oil prices can aid recoveries. A massive fall in the oil price is like a global tax cut on businesses big and small.
- The Dollar Strengthens
- OPEC Retains Production Levels
- Global Inventory Grows
- The Economy Weakens
- Iran Makes A Deal
In 2015, the dollar was at a 12-year high against the euro. That put pressure on market prices because commodity prices are usually quoted in dollars, and they will fall when the U.S. dollar is strong. For example, the surge in the dollar in the second half of 2014 caused a rare sharp decline in all of the leading commodity indexes.
OPEC, the cartel of oil producersthat sets production levels, was unwilling to prop up the oil markets by cutting its production levels. The oil ministers said in a statement that they had "concurred that stable oil prices – at a level which did not affect global economic growth but which, at the same time, allowed producers to receive a decent inc...
The prices of crude futures declined in late September 2015 when it became clear that oil stockpiles were growing amid increased production. The Energy Information Administration(EIA) reported that global oil inventories increased in every quarter of 2015, with a net inventory build of 1.72 million barrels per day. That was the highest rate since a...
While the supply of oil became increasingly abundant in 2015, global demand for oil was decreasing. The economies of Europe and developing countries were weakening. Vehicles were becoming more fuel-efficient. Meanwhile, China's devaluation of its own currency suggested that its economy might be weakening as well.Since China is the world's largest o...
In July 2015, the U.S. and several other world powers signed a deal that lifted economic sanctions against Iran. The Iran nuclear deal, as it became known, freed Iran to start exporting oil again. Investors feared it would add to the world's oversupply of oil, dragging down prices even more. (Iran withdrew from the agreement in 2019 after then-Pres...
Mar 7, 2022 · Crude oil prices react to many variables, including supply and demand prospects and the perceived risk of market disruptions. Economic growth can drive up the demand for crude oil, while...
- Prableen Bajpai
Dec 9, 2022 · Total US oil demand has not yet caught up to the pre-Covid era. But prices could still rebound. Oil market bears think all this points to a cyclical unwinding of oil prices that lasts.
May 3, 2023 · As crude dropped below $US70 per barrel on Wednesday, Michael Tran, managing director of Global Energy Strategy at RBC Capital Markets, told BNN Bloomberg he doesn’t see the trend being driven by recession fears, but rather weaker demand as people spend less on travel.
Aug 30, 2021 · Discover how OPEC, demand and supply, natural disasters, production costs, and political instability are some of the major causes in oil price fluctuation.
