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Oil Prices Plunge With Brent Crude Below $60
Keywords:
Brent crude drops below $60 by Dec. 15, 2014.
Impact of price drop to $60 for crude oil on oil drilling companies in 2014-2015
10/10/2014
Grouped Articles
Fracking Firms Get Tested by Oil’s Price Drop
Wall Street Journal 10/10/2014
Oil companies: Unsustainable energy
Economist 10/14/2014
OPEC Split as Oil Prices Fall Sharply
New York Times 10/13/2014
Oil prices plunge as production rises, fueling concern in OPEC - The Washington Post
Washington Post 10/15/2014
Refining Saudi Arabia’s Oil Strategy
Wall Street Journal 11/03/2014
Oil Slide Deepens, Ruble Crumbles
Wall Street Journal 12/01/2014
How the decision to not cut OPEC oil production was reached at the November 2014 Vienna meeting
12/04/2014
The decision leads to a drop in oil prices below $70 for Brent crude by Dec. 2014. A decision by Russia and Rosneft not to cut production, along with cuts by Mexico and the OPEC countries including Venezuela, leads to dropping of a Venezuelan proposal for oil production cuts. This turns out to have been a strategic mistake for Russia as the oil price drops accelerated a decline in the value of the ruble, aggravating a situation made difficult by western sanctions limiting capital access on global capital markets, capital flight, and higher inflation. The decision was presented as a Saudi effort to gain market share in the U.S. which had fallen sharply with increased shale oil production. By taking the Venezuelan proposal into consideration the Saudis maintained OPEC unity, while leaving open the possibility of reevaluating the decision in 2015 after observing the movement in oil price and supplies. The move hurts Iran, Russia and Venezuela which face severe economic constraints. It benefits India which faced severe energy import difficulties.
Grouped Articles
Saudi Arabia Sees Oil Prices Stabilizing Around $60 a Barrel
Wall Street Journal 12/04/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Why Saudis Decided Not to Prop Up Oil
Wall Street Journal 12/22/2014
Saudi Arabia Vows to Ride Out Oil Price Slump
New York Times 12/21/2014
Oil’s Swift Fall Raises Fortunes of U.S. Abroad
New York Times 12/24/2014
New King in Saudi Arabia Unlikely to Alter Oil Policy
New York Times 01/23/2015
Russia's effort to prevent the ruble from collapsing in December 2014
12/15/2014
Russia raises interest rates by 6.5% to 17% on December 15, 2014, as the price of Brent crude drops below $60. Emerging markets see money outflows in anticipation of the the U.S. Federal Reserve raising rates in 2015, adding to pressure on the ruble. Western sanctions imposed after Russian intervention in Ukraine has reduced access to financial markets for Russian businesses that borrowed in U.S. dollars and have large payments due in 2015. The large increase in interest rates pushes Russia into a recession in 2015.
Grouped Articles
Russia Moves to Help Lift Sinking Ruble
Wall Street Journal 12/16/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Ruble Strengthens After Central Bank Acts
Wall Street Journal 12/18/2014
Russia Introduces Measures to Calm Economic Jitters
New York Times 12/17/2014
New York Times 12/18/2014
Interest Rate Raised to 17% in Russia
New York Times 12/15/2014
Lower prices for Canada's shale oil and Canada's economy, the impact in 2013-2016
02/20/2009
The significant impact on the Canadian economy and on Alberta of the lower prices for Canada's shale oil. Discounts for Canada's shale oil relative to Brent crude benchmark international oil pricesand U.S. benchmark price range from 20 to 50%. Canada's shale oil was Dat $80 per barrel in April 2013, compared to $94 for U.S. benchmark price and $106 for Brent international crude oil price. This has reduced GDP in Canada for 2012 by 0.4% for the second half of 2012, according to Canada's central bank. GDP growth is sluggish at 1.8% for 2012. The impact in lower government tax and royalty revenues is significant for Alberta.
Grouped Articles
Trade and Oil on Agenda as Obama Visits Canada
New York Times 02/20/2009
Canada Looks to Sell Its Oil Beyond U.S.
Wall Street Journal 08/23/2013
Oil Markets Fly Into a Perfect Storm
Wall Street Journal 10/09/2014
Oil companies: Unsustainable energy
Economist 10/14/2014
Oil prices plunge as production rises, fueling concern in OPEC - The Washington Post
Washington Post 10/15/2014
Global Oil Glut Sends Prices Plunging
Wall Street Journal 10/15/2014
The impact of the declining ruble on the Russian economy by December 2014
12/04/2014
The ruble declines to 52 to the dollar by Dec. 2014, losing about 40% of its value in 2014. Oil prices decline to about $67 for Brent crude by Dec. 2014 accelerating the fall in the ruble.
Grouped Articles
Falling oil prices hit Russia much harder than Western sanctions - The Washington Post
Washington Post 12/04/2014
Washington Post 12/04/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Weak Ruble Keeps Russians at Home
Wall Street Journal 12/14/2014
Russia Moves to Help Lift Sinking Ruble
Wall Street Journal 12/16/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Contraction of Iran's economy in 2013 with decline in GDP of 2.9%, and decline in crude oil output
07/02/2014
The disastrous policies pursued under president Ahmadinejad led to serious contraction in the economy and decline in crude oil output in 2012-2013. The effort to reverse this under president Rouhani in 2014-2015 with easing of sanctions and improved investor sentiment.
Grouped Articles
Oil, Auto Companies Make Plans to Invest in Iran if Sanctions Ease
Wall Street Journal 07/02/2014
With Natural Gas Byproduct, Iran Sidesteps Sanctions
New York Times 08/12/2014
Fall in Oil Prices Poses a Problem for Russia, Iraq and Others
New York Times 10/15/2014
Iran poised to choose poverty over nuclear disarmament - The Washington Post
Washington Post 11/01/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Oil Price Drop, Nuclear Deal Delay Unsettle Iran’s Economy
Wall Street Journal 12/23/2014
The changing economic viability of mining in Canada's tar sands oil industry in 2012-2015
08/01/2007
Costs of synthetic crude manufactured from mining bitumen can exceed $100 a barrel as costs escalate in the recent boom in Alberta oil sands region. U.S. crude prices have dropped below $90 a barrel putting some large multibillion projects of Suncor Energy on hold. Production from U.S. Bakken oil fields in N. Dakota and limited pipelie space is changing the economics of production from tar sands.
Grouped Articles
How North Dakota Became Saudi Arabia
Wall Street Journal 10/01/2011
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
Keystone XL Review Sees Little Impact on Climate
Wall Street Journal 02/02/2014
Even Without Keystone Pipeline, Oil Has Flowed
Wall Street Journal 02/02/2014
A sticky ending for the tar sands
Economist 01/15/2009
U.S. Seeks New Rules for Rail Transport of Fuel
Wall Street Journal 07/24/2014
Crude oil and a Crude world as the countries where its is found don't necessarily benefit in infrastructure and jobs.
10/08/2009
Grouped Articles
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Economist 10/08/2009
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