Summary of The Business of Cheaper Oil

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Oil prices giveth, and oil prices taketh away. The US shale boom threw a huge curveball to a world economy accustomed to ever-rising oil prices. In this elegantly written study, the Economist Intelligence Unit serves up a scorecard: Some of the winners (such as airlines and US motorists) and losers (like Russia and Venezuela) are obvious, others less so. getAbstract recommends this enlightening report to investors, executives and decision makers everywhere seeking a global perspective on energy markets.

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.



Oil prices plunged by one-third in the second half of 2014, a surprise collapse that roiled the world economy in ways both expected and unexpected. Continuing weak global demand combined with greater supply from the United States to drive oil prices down. US crude oil production shot from 5.6 million barrels a day in 2011 to 8.9 million barrels a day in September 2014 thanks to the growth of hydraulic fracturing and horizontal drilling operations. Because of the drop in price, US shale-oil production growth will likely slow, the most costly-to-operate wells will become unprofitable and highly leveraged drillers...

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