Energy Transition

The winners and losers of the oil price plunge

Akin Oyedele
Markets Intern, Business Insider
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The oil crash has impacted oil importers and exporters differently.

The 50% plunge in oil prices will be a roughly $1.7 trillion gain for consumers in oil importing nations, according to BlackRock. But exporters will suffer, especially countries that are counting on revenues from higher oil prices to balance their budgets.

“Winners in this climate should be global consumers, oil importers such as India and Japan, and the transport and retailing industries,” BlackRock’s Jean Boivin wrote in a research report. “Oil-exporting nations and companies with limited cash buffers and poor access to debt markets (think Venezuela or over-leveraged U.S. shale plays) look to be the biggest losers.”

The map below shows the impact of a $50 fall in oil prices on every country’s revenues.

150213-oil winners and losers blackrock
BlackRock

 

This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.

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Author: Akin Oyedele is a markets intern at Business Insider

Image: Employees work on drilling rigs at an oil well operated by Venezuela’s state oil company PDVSA in Morichal. REUTERS/Carlos Garcia Rawlins 

 

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Energy TransitionEconomic Growth
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