Articles on Oil price

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German Chancellor Angela Merkel and French President Francois Hollande are in Kiev to discuss a peace plan. EPA/Roman Pilipey

Why peace in Ukraine won’t save the Russian economy

Angela Merkel and Francois Hollande’s push for peace in Moscow has helped fuel optimism about the prospects for Russia’s spluttering economy. On the morning of the meeting, the rouble had strengthened…
Saudi workers have been given a pay bonus by their new king, but unless oil prices rebound the country will find itself eating into its US$750 billion sovereign nest egg. EPA/Ali Haider

Black oil, red budgets: how long can Gulf states endure low prices?

In his first royal decree, Saudi Arabia’s newly crowned King Salman announced two-month bonuses for state employees, pensioners, students, and recipients of social service programs (that is, everyone in…
When airlines fill up, it’s not always easy to work out the cost. Patrick Lauke/Flickr

Explainer: fuel hedging and its impact on airlines and airfares

With oil prices on the decline, and analysts predicting record profits for the 2014/15 financial year, Qantas and Virgin Australia are under increasing pressure to abolish fuel surcharges and lower their…
Prices of gas are approaching $2 a gallon. Does that make it a good time to raise the gas tax? Kevin Lamarque/Reuters

Why hiking the US gasoline tax is back on the table

It is well known that the US has a major infrastructure problem with our national highway system. Many of our bridges are in a very poor state of repair and highway maintenance is not keeping up with needs…
Motorists in the United States and elsewhere have been treated to low prices. Whether they will bounce back is another question. EPA/CJ Gunther/AAP

Energy firms are waging a price war they might be unable to win

Late in 2014, we saw iron ore and coal prices fall. Now we are seeing oil prices tumble, dipping to less than US$50 a barrel, half the price of a year ago. In all cases, these price collapses reflect the…
The sands of time will turn against the desert oil states. iceink

Oil prices: eventually the Gulf states will run out of power

Oil prices have now almost halved in six months to below $60/barrel thanks to OPEC’s refusal to cut production. This means all the member countries are revising their government spending policies. While…
The first casualty of the Russian rouble crisis. Hint: it’s not Bruce Willis. www.trustbank.ru

Bank bailouts begin as Russia faces biggest challenge to date

The dramatic slide in the value of the rouble has claimed its first banking casualty. Trust Bank is being bailed out by the Russian Central Bank to the tune of US$530m. The emergency liquidity line is…
The falling oil price might take some time to translate to lower prices at the bowser. Julian Smith/AAP

The real winners and losers from the falling oil price

While this year’s relative stability in crude oil prices appears to have lulled us into a false sense of security, the dramatic fall over the last few weeks reminds us just how volatile these prices can…
Will it put Russia in the black or red? Nata789 via Shutterstock

Huge Russian rate hike plays roulette with the economy

Russia’s Central Bank has raised its key interest rate from 10.5% to 17% in an emergency move that is designed to halt the ongoing collapse of the rouble, which has accelerated in recent weeks. The dramatic…
Oil prices have dropped to levels not seen in years. It’s not all good news. Reuters

Oil price drop offers short-term gains but long-term pains

The recent drop in crude oil and gasoline prices in the United States is a nice stocking stuffer for consumers this holiday season, but it could turn into a lump of coal. A global oil glut has caused the…
In the 1970s, refineries in the Middle East controlled the world’s flow of oil. Not any more. National Iranian Oil Company/Wikimedia Commons

OPEC v oil prices: how the world’s biggest oil cartel lost its power

With oil prices on the slide, members of the once-dominant Organization of the Petroleum Exporting Countries (OPEC) decided last week not to attempt to rally them by cutting production, leaving the Brent…

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