While oil prices have stabilized somewhat in recent months, there are good reasons to believe they won’t return to the high levels that preceded their historic collapse two years ago. For one thing, shale oil production has permanently added to supply at lower prices. For another, demand will be curtailed by slower growth in emerging markets and global efforts to cut down on carbon emissions. It all adds up to a “new normal” for oil.
Filed under: Advanced Economies, Economic research, Financial markets, growth, IMF, International Monetary Fund, oil, technology | Tagged: advanced economies, China, COP21, developing economies, economic growth, emerging market economies, financial markets, IMF, International Monetary Fund, Iran, oil, oil prices, OPEC, Russia, shale oil, technology | Leave a comment »