Oil price tumbles after OPEC releases 2015 forecast

Thursday, December 18th 2014 - 18:12 UTC

Full article 10 comments

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC's latest forecast. And that's just one of several sour estimates. Read full article

Comments

Disclaimer & comment rules

Skip
Russia and Venezuela are being taught a valuable lesson.

Russia's economy is now smaller than Australia's. Bahahahaha
Dec 18th, 2014 - 06:42 pm - Link - Report abuse 0
-+
Captain Poppy
Was not Russia and China South America's savior?

http://www.buenosairesherald.com/article/177509/reversal-of-fortunes-hits-emerging-markets
Dec 18th, 2014 - 07:03 pm - Link - Report abuse 0
-+
golfcronie
The EU and the West should now be buying western oil and leave the Arabs to eat it. Once we stop buying their oil they will be forced to reduce production.
Dec 18th, 2014 - 08:23 pm - Link - Report abuse 0
-+
Briton
Wait for it,
and paulie says ????????????

give him time ..
Dec 18th, 2014 - 08:56 pm - Link - Report abuse 0
-+
golfcronie
Cups hand and shouts “ WHERE IS PAULIE ”?
Dec 18th, 2014 - 09:48 pm - Link - Report abuse 0
-+
Britworker
North sea oil is also all but finished also. It cannot be brought out of the sea at $60 a barrel and operate a profit.

The serious questions have now started to be asked of the SNP, cos without that there is fuck all else bringing money in up there. Their manifesto guaranteed the Scottish people 30-50 years at $110 or more, what a crock of shit.

Aren't they incredibly lucky that they have the rest of the UK to fall back on. Sturgeon had better start baking shortbread biscuits and wrapping them in tartan, cos that is they will be selling for a while.
Dec 18th, 2014 - 10:30 pm - Link - Report abuse 0
-+
Idlehands
“The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude”

That statement makes no sense whatsoever.

I assume they meant “price” rather than “demand”
Dec 19th, 2014 - 09:59 am - Link - Report abuse 0
-+
Captain Poppy
Maybe they need a lesson in supply and demand with price elasticity.
Dec 19th, 2014 - 01:52 pm - Link - Report abuse 0
-+
paulcedron
time to say “adiós” to the tiny little oil well you have in the islets, hillbillies.
with these prices it is absolutely unviable.
and they want to start the extraction (of dirty water, of course) during 2015...
lol
LOL
Dec 20th, 2014 - 12:16 am - Link - Report abuse 0
-+
Skip
Yep! But still not Argentine oil.

British oil.

What you going to do about it Paul? That's right, whine like a Peronist pig.
Dec 20th, 2014 - 04:18 am - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!