On 5 December 2014 oil prices hit a new five-year low.
Since then, prices slumped further, dipping below the $50 mark, before bouncing back to a low $60 in late February after oil majors began announcing cuts in their capital expenditure.
Some of the factors that led to 2014’s summer highs of US$110 per barrel have been removed: high demand, decreased supply and a strong US dollar.
The US is now bringing online its oil resources and this is having a structural impact on ...
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Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.