vendredi 2 janvier 2015
Could 2015 herald a 'new oil order'?
Posted on 05:07 by nice news
Last year was a tumultuous year for oil, with Brent crude prices declining around 50 percent since June on the back of an over-supplied market and lack of global demand.
From "old school" oil producers Russia and Saudi Arabia in the east to shale oil in California and oil sands in Alberta in the west, the glut of oil and its impact on currencies and economies has been felt across the world.
When the Organization of Petroleum-Exporting Countries (OPEC) decided not to cut production when it met in November, the 12 major oil producers effectively threw down the gauntlet to the young guns of U.S. oil to see who could withstand the fall in prices and who would blink first and trim production.
On January 2, benchmark Brent crude was trading at $57.11, having fallen from a high of around $115 a barrel hit in mid-June.
With prices falling fast and hitting five-year lows in mid-December, commodities research teams at the world's investment houses and
From "old school" oil producers Russia and Saudi Arabia in the east to shale oil in California and oil sands in Alberta in the west, the glut of oil and its impact on currencies and economies has been felt across the world.
When the Organization of Petroleum-Exporting Countries (OPEC) decided not to cut production when it met in November, the 12 major oil producers effectively threw down the gauntlet to the young guns of U.S. oil to see who could withstand the fall in prices and who would blink first and trim production.
On January 2, benchmark Brent crude was trading at $57.11, having fallen from a high of around $115 a barrel hit in mid-June.
With prices falling fast and hitting five-year lows in mid-December, commodities research teams at the world's investment houses and
Could 2015 herald a 'new oil order'?
Categories: Could 2015 herald a new oil order?
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