Many observers believed the massive drop in oil prices that began in mid-2014 would have a significant positive impact on the world economy. Instead, experts have adjusted global growth forecasts downward for 2015–2016. In a new era of low oil prices, both winners and losers will emerge, and countries must adjust their policies accordingly. This comprehensive and accessible report from a multidisciplinary team of economists at the International Monetary Fund offers readers a solid grounding in the shifting dynamics of energy prices. getAbstract recommends this informative text to energy producers and energy consumers everywhere.
In this summary, you will learn
- Why oil prices have fallen so precipitously since mid-2014,
- How lower oil costs affect economic growth in the global economy and
- What policies nations should consider in a low-cost energy environment.
About the Authors
Aasim M. Husain et al. are economists with the International Monetary Fund.