Patrice Geoffron is a professor of economics at Paris-Dauphine University and director of the Center for Geopolitics of Energy and Raw Materials.
Read also Speculation, saturated storage… Why the barrel of oil fell below zero dollar
Nothing seems to prevent a fall in world oil prices. How did we get here ?
The health crisis we are going through and the resulting overproduction of oil have only precipitated the fragility of the world oil market. It is difficult to understand the current situation without looking at what has happened in the past twenty years. Recall that in 2007, shale gas and shale oil appeared in US statistics. These productions then take on importance thanks to hydraulic fracturing, but above all because world oil prices rise, up to close to 150 dollars per barrel [en 2008]. And it’s mainly China, which joined
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