If the oil crash of 1986 is anything to go by then it could be a long road to recovery
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If the oil crash of 1986 is anything to go by then it could be a long road to recovery. Mark Shenk writes The last time excess supply caused a plunge in oil, it took almost five years for prices to recover. West Texas Intermediate, the U.S. oil benchmark, tumbled 69 percent from $31.82 a barrel in November 1985 to $9.75 in April 1986 when Saudi Arabia, tiring of cutting output to support prices, flooded the market. Prices didn't claw back the losses until 1990. Oil has dropped 57 percent since June and OPEC members say they're willing to let prices sink further. Full article: (VIEW LINK)
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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Livewire News
Livewire
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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No areas of expertise
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