Oil – A Question of Economics

Luay Al-Khatteeb discusses the recent debate over falling oil prices. He says that the International Energy Agency (IEA) has reduced its growth forecasts for 2015 suggesting that demand may grow modestly by a 1 mbd to nearly 93 mbd. Al- Khateeb concludes the economic solution to our energy requirements is to invest in low cost producers instead of preventing them from reaching the market by financing chaos in the Middle East and Africa.