Winners and losers of oil's big decline The oil price continues to fall and markets are now bracing themselves for low prices to continue
Winners and losers of oil's big decline The oil price continues to fall and markets are now bracing themselves for low prices to continue. Low oil prices have an impact on the oil-producing Russia and Saudi Arabia, but also resource-strong economies like Brazil and Venezuela. Steen Jacobsen, Chief Economist for Saxo Bank stresses there are always winners and losers, and in this case, the winners are the average consumers who will pay less for gas and electricity, while producers are suffering in what increasingly looking like a race to the bottom between the US and OPEC. Jakobsen says: I think a rebalance is reachable and oil is bottoming out... We are probably seeing the lower side of oil (prices) so the impact will be positive, but there will be a six to nine month delay before the impact reaches the real economy. (VIEW LINK)
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