Oil in 2019: Booms, Busts and the United States

Low oil prices will help some and harm others.

Xander Snyder |January 7, 2019

It wasn’t that long ago that oil-producing countries were riding high. In 2014, with prices topping out at $115 per barrel, producers the world over had money to save, money to spend, and money to reinvest in what seemed to be an increasingly lucrative industry. Black gold, it seemed, brought their budgets into the black. But circumstances changed, and a year later oil prices fell dramatically, stabilizing a few months thereafter but dropping again, bottoming out at about $26 in January 2016.

If this sounds familiar, it should. Only a few years earlier, in July 2008, at the tail end of the boom that preceded the financial crisis, oil prices peaked at about $140 per barrel. By year’s end, oil would cost just $33 per barrel.

There’s an important distinction between the two downturns. In 2008, prices plunged because of a decrease in demand, and in 2014, they fell because of a surge in production. But if the causes were different, the outcomes were the same: Oil-producing coun

SPRING SALE OFFER!

Get full access for just

$49 for 6 months

This offer ends March 29th

Get full access now:

Download as PDF or get access to all In-Depth Content

Over 10,000 Premium Readers

Download the article PDF format, full-color
$9.99
One Month Introductory Offer One month for $9.99, then $39 quarterly
$9.99
Subscribe
3 Months Introductory Offer Three months for $29, then $35 quarterly
$29
Subscribe
Oil in 2019: Booms, Busts and the United States

Reader feedback

“I want to thank you for all your writing. Your look at history--causes, motivations, effects--is so astounding against the mainstream dates, events, and bias. I read as much of your site as I can, but I most of all love the look at history. Nobody has as profound a look at American & European history, or WWII. You are peerless.” Christopher T. of Raleigh, NC
“The material is always well-written, and is very useful for understanding the significance of important issues developing across the world.” Beckett T. of Washington
“Geopolitical Futures' insights are mind-blowing. Their analyses never fail to distill order from the jumble of current events. No other publication comes close to the caliber of Geopolitical Futures' forecasts.” Bill S. of California
“Your emails is my best link to understanding what is going on in the world's hot spots without the extreme typical media bias. Keep up the great work. Thanks for your considerable efforts.” David H.
“Geopolitical Futures is unparalleled for open source analysis. It's like they have a crystal ball. I'm jealous of George Friedman's ability to effectively communicate such a complex world in such relatively simple terms. I'd pay far more money than I am now to keep this service. I feel like I'm stealing.” Dominic F. of Virginia
“Your analysis is thought-provoking and informative. I am a geopolitical hobbyist, but I also use your information to manage my retirement portfolio. I love your cogent, dispassionate analysis. Kudos to you.” Kevin A of Maryland
“I was an Economist subscriber. No longer. I find your articles insightful, easy to read, and only takes few minutes a day to stay informed. Bravo!” Pat G.
“The best analysis out there, by far. As a geopolitical analyst, you guys are an inspiration, a reference and a constant motivation for improvement. Thanks for the rigour and the high quality you deliver in all of your work!” Ricky M. of Panama
“I think you doing an excellent job keeping people informed about global trends. You are doing analysis in a timely manner for events across the globe which is challenging task. Keep up the good work!” Nicolae C. of Romania
“The insights that you offer often go against "conventional wisdom" and conformist views. However, more often than not, your profound assessments and forecasts, which stem from a deep understanding of a wide range of associated dynamics, have turned out to be correct with passage of time. It is for these reasons that I invest in your work.” K Singh of India
“One of the vanishingly few analysis publishers that try to understand the current situation in light of local, regional and international facts and historical events, with no discernible bias, a transparent effort to overcome cognitive bias, and refreshing willingness to go against the current when seeking to shed light on events.” Ian W. of Paraguay

Get full access now:

Download as PDF or get access to all In-Depth Content

Over 10,000 Premium Readers

Download the article PDF format, full-color
$9.99
One Month Introductory Offer One month for $9.99, then $39 quarterly
$9.99
Subscribe
3 Months Introductory Offer Three months for $29, then $35 quarterly
$29
Subscribe
Oil in 2019: Booms, Busts and the United States