The Oil Price Crush And Oilfrontiers: The Stakes And The Escape Strategy for Ghana

INTRODUCTION

The black gold is under severe pressure which has been blamed on several factors including increasing US domestic oil production, increasing shale production, Saudi’s strategy to maintain its market share, and low demand for oil in the Euro Zone and Asia. Oil prices have crushed as a result, reported at a five year low of US$66 per barrel of Brent Crude Oil and $65 per barrel of WTI.