Olivier Blanchard, chief economist at the IMF, on tumbling oil prices, which countries look vulnerable in 2015 and what he'd like in his Christmas stocking
One of the biggest stories of 2014 has been the astonishing drop in global oil prices. The price of the benchmark Brent crude went from over $100 per barrel at the beginning of the year to the $60 range as of this writing. It's worth noting how massive and completely unexpected this price drop has been. Show More Summary
Russia's economy has shrank for the first time in five years, as sliding oil prices and sanctions over Ukraine take their toll. ||| Moscow - Russia's economy shrank in November for the first time in five years, the government said on Monday, as sliding oil prices and Western sanctions over Ukraine take their toll. Show More Summary
Rob had an interesting blog story on Saturday evening about the possibility that the oil boom in Western North Dakota may be over. With the lower oil prices partially caused by OPEC’s war against America’s oil shale production, this fact could have an interesting effect in the upcoming legislative session. Utility Budgets – Historically lower...
As oil prices continued their slide following OPEC's meeting on Thanksgiving Day, speculation has grown concerning whether the cartel might have finally run its course. Is OPEC now at the mercy of market and pricing forces that are beyond its control? read more
Ongoing hostilities between militants and government forces is stoking concern
Submitted by Jeffrey P. Snider via Alhambra Investment Partners, Why Can't Oil Be Oil? For most commentary on the recent and sharp decline in oil prices, there is a serious ceteris paribus to it especially from those that don’t recognize that there are much deeper financial forces. Show More Summary
As world oil prices have slumped below $60 a barrel, tumbling nearly 50% since June to a five-year low, analysts have scrambled to discern the economic and political fallout.
Earlier I posted some questions for next year: Ten Economic Questions for 2015. I'll try to add some thoughts, and maybe some predictions for each question.Here is a review of the Ten Economic Questions for 2014.7) Oil Prices: Declining oil prices and falling bond yields were two of the biggest stories of 2014. Show More Summary
2014 was an awful year for oil stocks as the price of oil collapsed. If oil prices rebound in 2015 here are the best oil stocks to play that rebound.
A few weeks ago I offered some calculations suggesting that lower demand for oil might account for about $20/barrel of the dramatic decline in the price of oil since last summer. Here I point to some other evidence consistent with that conclusion. Last week the IMF’s Rabah Arezki and Olivier Blanchard produced a very useful […]
Many have celebrated plunging oil prices as the spark behind cheap gas and possible economic stimulus. However, the pace of oil's decline also poses risks to the economy.
Their international competitors may be cheering tumbling oil prices, but the collapse in the ruble has meant major financial turbulence for Russian airlines who have expenses in foreign currencies. The ruble has slumped by 40 percent this year against the dollar and euro, mostly due to crude oil...
Slumping oil prices have put Russia's economy on course for a sharp recession and double-digit inflation next year, government ministers said on Friday, as authorities scaled up a bailout for the first bank to succumb to this month's rouble crisis. Show More Summary
Continental Resources Inc. continues to be on the wrong side of falling oil prices as it was forced to slash its 2015 spending plan again.
The drop in oil prices has been very bad for Russia. It has caused a recession and inflation could hit double digits in 2015. Debora Patta reports from London.
Oil prices fell Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the United States, trumped worries about falling production from Libya.
Russia’s economy is in trouble. Growth has come to a halt. A recession looms in 2015. Inflation, interest rates, and capital flight are up. The government’s budget is under strain. More than any of these, what makes the headlines isShow More Summary