In recent months the world price of oil has dropped more than 30 percent, giving economies in most countries a boost, but driving down profits for national oil companies, privately-owned oil producers and companies that service oil fields and operations. As VOA’s Greg Flakus reports from Houston, experts say the lower prices are not expected to last long.
Originally published at – http://www.voanews.com/media/video/experts-say-oil-price-decline-unlikely-to-last/2533152.html
The price of oil dropped to a four-year low after the OPEC cartel decided not to cut production levels. Judy Woodruff speaks with Kevin Book of ClearView Energy Partners about the national and global consequences of cheap gas and for how long prices will stay low.