Global Implications of Lower Oil Prices

Many observers believed the massive drop in oil prices that began in mid-2014 would have a significant positive impact on the world economy. Instead, experts have adjusted global growth forecasts downward for 2015–2016. In a new era of low oil prices, both winners and losers will emerge, and countries must adjust their policies accordingly. This comprehensive and accessible report from a multidisciplinary team of economists at the International Monetary Fund offers readers a solid grounding in the shifting dynamics of energy prices. getAbstract recommends this informative text to energy producers and energy consumers everywhere.