Thursday, April 28 08 AM
Japan Society
333 East 47th Street, New York, NY 10017
Oil has been a volatile commodity with its history of booms and busts. Oil prices plunged to the lowest levels in years at the end of 2015 and beginning of 2016. In March 2016, oil price has been gathering momentum, jumping to around $40 per barrel. In addition to the United States approving measures to lift the 40-year ban on crude oil exports, Iran is ramping up its oil production, bringing downward pressure on oil price. On the other hand, oil producers from OPEC and non-member countries will meet at Doha on April 17th to discuss a possible freeze on production, which in turn may lead to higher oil prices. This program addresses the factors affecting the price of oil, the impact of low oil prices on the global economy, and the advantages and disadvantages of falling oil prices. Panelists also discuss how long low oil prices will continue, and the oil price forecast for 2016.
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