Wednesday, December 31, 2014

Oil Falls: Worst Year Since 2008 Crisis

Brent at $57
Crude oil continued its fall, capping biggest annual decline since 2008 global financial crisis. U.S. shale oil producers and the OPEC are ceding no ground in the battle for market share amid a supply glut. West Texas Intermediate for February delivery closed at $53.27 a barrel and Brent crude at $57.33 in the last day of the year. This is a 46 percent drop in 2014.

File photo: Getty Images



Mark Pyruz said...

"Oil Falls: Worst Year Since 2008 Crisis"

instead should read:

"Oil Falls: Best Year Since 2008 Crisis"

Nader Uskowi said...

Worst year for oil since 2008; and the countries and people who are affected negatively, and significantly, by the drop in prices, like Iran and the Iranians. And best year for consumers of oil products worldwide, but more in the short term, as low oil prices could slow down the development of alternative energy resources, and in the long term these prices might work against consumers as well.