CRUDE SHOCK
CRUDE SHOCK
Oil is selling for less than US10 a barrel, metals prices are depressed and now the benchmark commodities futures index has dropped to its lowest level for more than 20 years. In one sense this is nothing new. The trend in commodity prices has been relentlessly downwards - look through the cycles and each floor is lower than the previous one. Current price levels are creating huge hangovers for Latin American and Middle Eastern economies that rely on oil. Eventually, the cycle should prove self-correcting: loss-making producers will not build the new capacity needed to satisfy recovering demand. But there is much pain to face first.
PRECIOS DEL PETROLEO AMERICA LATINA INDUSTRIA PETROLERA
PRECIOS DEL PETROLEO
09
3ext122
XL
XZ
Oil is selling for less than US10 a barrel, metals prices are depressed and now the benchmark commodities futures index has dropped to its lowest level for more than 20 years. In one sense this is nothing new. The trend in commodity prices has been relentlessly downwards - look through the cycles and each floor is lower than the previous one. Current price levels are creating huge hangovers for Latin American and Middle Eastern economies that rely on oil. Eventually, the cycle should prove self-correcting: loss-making producers will not build the new capacity needed to satisfy recovering demand. But there is much pain to face first.
PRECIOS DEL PETROLEO AMERICA LATINA INDUSTRIA PETROLERA
PRECIOS DEL PETROLEO
09
3ext122
XL
XZ