Published on Monday, July 15, 2019

Oil Prices: Hard Times

To paraphrase Dickens: It is both the best of times and the worst of times for oil-producing countries. The outlook for OPEC is bleak. Despite production cuts, the price of Brent crude oil remains below $70 per barrel.

Key points

  • Key points:
  • Production is at its lowest point since 2015, due not only to voluntary cuts but also to structural and geopolitical factors that have diminished the supply of several member countries.
  • For the United States, the situation remains favorable. With a breakeven threshold of between $35 and $50 per barrel, the country's unconventional oil industry can adapt comfortably to current prices.

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