How low can oil prices go?
Price war between Saudi Arabia and Russia pushes crude oil below $30 a barrel.
The coronavirus pandemic is triggering fears of a global recession.
Stock markets are suffering enormous losses.
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On top of all that is an oil price war between two of the world’s biggest producers: Saudi Arabia and Russia.
The dispute pushed the price of Brent crude to below $30 a barrel on Monday – the lowest in four years.
Global demand for oil was already low since governments imposed widespread lockdowns, and airlines grounded flights because of the coronavirus.
How badly will this price drop hurt the global economy?
Presenter: Lauren Taylor
Guests:
Cornelia Meyer – economist and CEO of Meyer Resource, a specialist consultancy on oil and gas
Mamdouk Salameh – international oil economist and visiting professor of energy economics at ESCP Europe Business School
Jeff Colgan – associate professor of political science at Brown University
Published On 17 Mar 2020