Meghan O’Sullivan in Bloomberg: “Even If OPEC Cuts, Oil Prices Could Still Fall in 2019”

Meghan O’Sullivan in Bloomberg: “Even If OPEC Cuts, Oil Prices Could Still Fall in 2019”

Some of us are starting to associate turkey with low oil prices.

Just four years ago, on Thanksgiving Day in 2014, OPEC held a meeting in Vienna, the outcome of which set off a dramatic slide in oil prices. The price of Brent crude dropped $6 a barrel, or 8 percent, in just the 24 hours after OPEC announced the outcome of its meeting. This Thanksgiving, there was no OPEC gathering, but on Friday, the Brent price still slid nearly $4, or 6 percent, to its lowest mark in a year. Although the price has since stabilized, we cannot rule out a further slip in the weeks or months ahead…

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