Oil supply: The cartel’s challenge
By Ajay Makan and Neil Hume
Shale gas and eased sanctions on Iran will test Opec’s ability to curb output and buoy prices
At a private dinner early in November a group of executives from one of the world’s largest commodity traders was asked to predict the price of oil in a year’s time. Without exception the forecasts, scribbled on place cards without consultation, were for Brent crude to fall well below the $100 a barrel level it has traded above for most of the past three years.
Those predictions reflect a growing consensus in the oil market. From US shale to an easing of sanctions on Iran, the coming years are expected to provide a huge boost to global output, inverting the structure of the oil market in which supplies have long been rationed by a handful of producers.
https://www.ft.com/intl/cms/s/0/bc23bc7a-581a-11e3-82fc-00144feabdc0.html#axzz2mJFyL8eB
Thank you, President Obama!
You got the blame when gasoline prices rose.
It only makes sense that you get the credit when prices fall.
Prices were like 1.80 per gal at the pump when Pres Bush was in charge
#1 You are obviously either a liberal robot or totally misinformed.
Obama has done everything in his power to damage the oil and coal industries in order to promote his misguided and economically doomed green energy agenda.
Thank god for entrepreneurial Americans who have developed a way to extract oil from shale and sand… Despite President Obama’s socialist economic agenda.
Of course you love paying less for gas but will complain when the people responsible for finding this new source of energy become rich and part of the 1%. I’m sure you believe they should share their wealth with you and all the other takers…