The fracking revolution in the U.S. has considerably changed the global oil market and the strategic calculations of market participants. The initial entry of shale oil producers caused a crash in prices due to the sudden flooding of the market in 2014. The steep decline in prices led to a landmark deal between the largest oil producers. The agreement to reduce production by 1.8 million barrels per day significantly raised prices to a more sustainable level to the benefit of producers. Currently, the world is facing several risks that could again significantly impact the price of oil, only this time, not a downward revision but upward. Obviously, lower prices are favorable to consumers for whom the sharp decline in 2014 was profitable. However, the looming perfect storm of geopolitical and technical problems threatens to destabilize the market. Internal trouble in several regions has decreased supply. The civil war in […]