Analysis & Opinions - Bloomberg Opinion

Even If OPEC Cuts, Oil Prices Could Still Fall in 2019

| Nov. 29, 2018

Some of us are starting to associate turkey with low oil prices.

Just four years ago, on Thanksgiving Day in 2014, OPEC held a meeting in Vienna, the outcome of which set off a dramatic slide in oil prices. The price of Brent crude dropped $6 a barrel, or 8 percent, in just the 24 hours after OPEC announced the outcome of its meeting. This Thanksgiving, there was no OPEC gathering, but on Friday, the Brent price still slid nearly $4, or 6 percent, to its lowest mark in a year. Although the price has since stabilized, we cannot rule out a further slip in the weeks or months ahead.

Want to Read More?

The full text of this publication is available at the original publication source.
Read Full Article
For more information on this publication: Please contact the Belfer Communications Office
For Academic Citation: O'Sullivan, Meghan.“Even If OPEC Cuts, Oil Prices Could Still Fall in 2019.” Bloomberg Opinion, November 29, 2018.

The Author

Meghan L. O'Sullivan

Meghan L. O'Sullivan

  • Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
  • Member of the Board, Belfer Center for Science and International Affairs
Expertise:
Recommended
In the Spotlight
RSS
History is abound with examples about how third-party countries benefited from trade conflicts, write Juergen Braunstein and Oliver McPherson-Smith. The US-China Trade War beneficiary could be Saudi Arabia.
More from Juergen Braunstein
The Harvard Project on Climate Agreements is exploring ways we might govern solar geoengineering, a potential method for reducing the risks of greenhouse gases.
Harvard Project on Climate Agreements
See highlights from Belfer Center events with speakers including Susan Landau, Erica Chenoweth, Hank Paulson, Gen. Joseph Votel, Jason Rezaian, Fran Ullmer, Jill Lepore, Susan Gordon, and more.
More Belfer Center Photos
Most Viewed

Tags