Analysis & Opinions - Bloomberg Opinion
Even If OPEC Cuts, Oil Prices Could Still Fall in 2019
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.
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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
- Jeane Kirkpatrick Professor of the Practice of International Affairs, Harvard Kennedy School
- Member of the Board, Belfer Center for Science and International Affairs
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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.The Author
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
- Recommended
- In the Spotlight
- Most Viewed
Recommended
News - Harvard Project on Climate Agreements
Harvard Project and Enel Foundation Host COP-24 Panel on Implementing Article 6 of the Paris Agreement
Analysis & Opinions - The Brookings Institution
Brexit Endgame: Theresa May’s Terrible, Horrible, No Good, Very Bad Week
Analysis & Opinions - The New York Times
Trump’s Intervention in Huawei Case Would Be Legal, but Bad Precedent, Experts Say
In the Spotlight
Most Viewed
Analysis & Opinions - Belfer Center for Science and International Affairs, Harvard Kennedy School
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Discussion Paper - Belfer Center for Science and International Affairs, Harvard Kennedy School
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