A decade of upstream underinvestment, coupled with geopolitical tension, makes it hard to ramp up production in the near term, an energy economist says.
An analyst said the stock market remains highly correlated with oil prices, moving in opposite directions. ‘It’s that simple an explanation for right now.’
The study found that higher import prices imposed costs on consumers and businesses, but losses were offset by increased government revenue and wage gains.
On video from the besieged Gulf state, a key minister said Iran’s attacks on infrastructure and the Hormuz Strait was ‘economic terrorism against every nation.’
A decade of upstream underinvestment, coupled with geopolitical tension, makes it hard to ramp up production in the near term, an energy economist says.
An analyst said the stock market remains highly correlated with oil prices, moving in opposite directions. ‘It’s that simple an explanation for right now.’
The study found that higher import prices imposed costs on consumers and businesses, but losses were offset by increased government revenue and wage gains.
On video from the besieged Gulf state, a key minister said Iran’s attacks on infrastructure and the Hormuz Strait was ‘economic terrorism against every nation.’