Crude oil prices are at a four-year low and Liquefied Natural Gas (LNG) prices have also fallen since the beginning of 2014. Rising oil production and a slowing of growth in demand are the two main reasons for the drop. The prospect of large-scale shale gas production in the U.S. is also expected to bring down global energy prices after exports start in 2015.
GatewayHouse has compiled a list of 58 natural resource-dependent economies. We further shortlisted economies where oil and gas account for over 10% of GDP (Figure 1 and Table 1).
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“Can cheap oil bring peace”
Amit Bhandari, Energy & Environment Fellow, Gateway House's article analysing the fluctuation in global oil prices was republished by The Political Indian