2014 oil plunge: Causes and impacts on renewable energy

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Muhammad Imran Khan, Tabassam Yasmeen, Abdul Shakoor, Niaz Bahadur Khan and Riaz Muhammad

Renewable and Sustainable Energy Reviews, 2017, vol. 68, issue P1, pages 609-622

Abstract: Following four years of relative stability at around $106 per barrel (bbl), oil prices have declined sharply since June 2014 and are expected to remain low for a considerable period of time. There are multiple factors which are being considered behind the plunge in the price of oil since June 2014. Most observers have conjectured that domestic oil boom in the United States and Iraq is the major cause for the falling oil prices. Some have suggested that a major shock to oil price expectations occurred after the November 2014 meeting of OPEC, when they did not cut production despite the steady increase in non-OPEC oil production.

Keywords: Oil price; Shale oil; OPEC; Renewable energy (search for similar items in EconPapers)
Date: 2017
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