Bulletin

Oil prices will stay below $100 for a decade

oil

The price of crude is unlikely to rise above $76 a barrels by 2025 and could fall to $40 because of the supplies tapped through fracking in the US, according to predictions by Opec. In a document drafted for an Opec staff meeting in Vienna, it is suggested that Opec members might have to take radical actions to avoid further price falls, raising the prospect of a return to production quotas among members. The report recommends allowing the poorest members, such as Venezuela and Algeria, to produce more than other member states. Traders yesterday claimed that oil prices were facing another slump after recovering somewhat to $65 a barrel. Millions of tonnes of crude from western Africa and the North Sea were struggling to find buyers because of poor demand.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

Other Articles

The new Apprenticeship Levy could help transport and logistics companies solve their recruitment problems and equip their workforces with…

Cornwall is a land steeped in legend but this salty business success story is no myth.

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Santander Incubator social enterprise, Liverpool Girl Geeks, has secured £20k in Rosa funding to help them grow their programmes and…

Travelstar European Ltd, one of the West Midlands’ leading coach hire companies, has moved to larger premises in Portland Street, Walsall,…

The UK’s aerospace industry is the focus of our second quarterly bulletin in partnership with EEF, the manufacturer’s organisation. We take…

Where Next?