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2014 oil plunge: Causes and impacts on renewable energy

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

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.

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  • Khan, Muhammad Imran & Yasmeen, Tabassam & Shakoor, Abdul & Khan, Niaz Bahadur & Muhammad, Riaz, 2017. "2014 oil plunge: Causes and impacts on renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P1), pages 609-622.
    • Handle: RePEc:eee:rensus:v:68:y:2017:i:p1:p:609-622
    DOI: 10.1016/j.rser.2016.10.026
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