Andreas Economou is a research fellow at OIES.
The renewed oil price plunge – Brent spots fell by 9.2% between March 1–10 – has reopened the debate on the factors that could dictate a sustained oil price recovery following the 2014–16 oil price slump. While the Organisation for the Petroleum Exporting Countries’ (Opec) decision to extend cuts beyond June will be crucial, primary market factors point to tightened prices.
Brent fell close to $50 per barrel (/bbl) in mid-March – its lowest level
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