Sheikhs v shale
The economics of oil have changed. Some businesses will go bust, but the market will be healthier
THE official charter of OPEC states that the group’s goal is “the stabilisation of prices in international oil markets”. It has not been doing a very good job. In June the price of a barrel of oil, then almost $115, began to slide; it now stands close to $70.
This article appeared in the Leaders section of the print edition under the headline “Sheikhs v shale”
From the December 6th 2014 edition
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