Who Wins and Who Loses in a World of Cheap Oil

January 8, 2016 | 23:09 GMT

The Gathering Center No. 15 of al-Rawdatain oil field, just north of Kuwait City, in 2005. (YASSER AL-ZAYYAT/AFP/Getty Images)

Oil is the most geopolitically important commodity, and the ongoing structural shift in oil markets has produced clear-cut winners and losers. Between 2011 and 2014, major oil producers became accustomed to prices above $100 per barrel and set their budgets accordingly. For many of them, the past 18 months have been a period of slow attrition. And with no end in sight for low oil prices, their problems are going to only multiply. Click here to continue reading…