Oil prices: How Long Can They Stay Low?
US shale growth is proving resilient. Though output growth will slow with lower oil prices, it will rebound rapidly at any sign of a sustained pricing upturn – putting a cap on the extent to which prices are likely to rise, likely for several years.
- By Professor Paul Stevens*
Since June 2014, the international price of crude oil has fallen by around 60%. Since the start of this year, Brent has averaged around $54/B. ...