Lower for longer? The impact of “The New Oil Order”

“The New Oil Order” is one of the most far-reaching market developments since the global financial crisis. The surge in U.S. oil production from investment in shale extraction has driven down prices to levels not seen since 2009 and spurred a fundamental reorganization of the global energy hierarchy.

Four members of the Global Investment Research Division at Goldman Sachs – global head of Commodities Research Jeff Currie, co-head of European Equity Research Michele Della Vigna, chief economist Jan Hatzius and senior strategist Allison Nathan – explore this downturn and the impact of “The New Oil Order” for consumers, countries and companies.

According to Michele Della Vigna, “We define this ‘new oil order’ as one where new shale production and OPEC are fighting for market share and the rest of the market, really, is fighting for relevance.”

“The decline in oil prices is, on balance, we think a positive for global economic activity. The oil consumers are generally getting a boost.” – Jan Hatzius

Learn more about the implications of “The New Oil Order” and other trends that are shaping markets around the world.

Content From