As oil prices remain depressed, could this signal the end of the shale revolution? Ole Hansen, head of commodity strategy at Saxo Bank, says Yes. A period in which crude oil prices were below $80 per barrel would begin to hurt the US shale industry. Over the past four years, the average price of US-produced WTI crude has been north of $95 per barrel, and while this has triggered [...]
With Brent crude prices at a four-year low, is Opec’s power over the oil market waning? Ole Hansen, head of commodity strategy at Saxo Bank, says Yes. Opec’s control over global oil prices is waning because supply growth increasingly comes from non-Opec producers. An example is the US, where production has risen to the highest level in 28 years – largely due to the shale revolution, which has added almost 4m [...]
As oil prices fall sharply, is this a worrying sign for the health of the global economy? Ole Hansen is head of commodity strategy at Saxo Bank, says Yes. The sharp drop in oil comes at a time of rising global tensions. IS militants are causing havoc in the Middle East, while deteriorating relations between Russia and the West have triggered something akin to a new Cold War. Lower oil prices mean [...]
