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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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
- 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 via 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
Analysis & Opinions - Bloomberg Opinion
Iran Oil Sanctions: A Rare Case Where Transactional Diplomacy Should Work
Analysis & Opinions - Lawfare
The U.S. Names the Iranian Revolutionary Guard a Terrorist Organization and Sanctions the International Criminal Court
Analysis & Opinions - LinkedIn
Energy Abundance and the Environment: An Interview with Meghan L. O’Sullivan, Part 2
In the Spotlight
Most Viewed
Analysis & Opinions - National Post
War Between China and the United States Isn't Inevitable, But It's Likely: An Excerpt From Graham Allison's "Destined for War"
Discussion Paper - Belfer Center for Science and International Affairs, Harvard Kennedy School
Why the United States Should Spread Democracy
Analysis & Opinions - Belfer Center for Science and International Affairs, Harvard Kennedy School
Thirty-three Years Since the Catastrophe at Chernobyl: A Universal Lesson for the Global Nuclear Power Industry
