Leandro Alves price of oil

Leandro Alves, Principal, Falvez Energy

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Summary: The Price of Oil’s Impact on Latin America and the Caribbean 

By Samantha Nibali

With crude prices hovering around $50 per barrel, AS/COA hosted a panel on what the price decrease means for regional economies.

Panelists:

  • Vladimir Werning, Executive Director and Head of Latin America Research, J.P. Morgan
  • Adrienne Cheasty, Deputy Director, Western Hemisphere Department, International Monetary Fund (IMF)
  • Leandro Alves, Principal, Falvez Energy
  • Eric Farnsworth, Vice President, Council of the Americas (moderator)

Summary

With crude prices hovering around $50 per barrel, Latin America and the Caribbean’s energy producers and consumers have had to reevaluate their plans for 2015. In particular, lower oil prices put pressure on producers’ budgets, while consumers benefit through lower spending on energy imports.

In the wake of this crisis, panelists offered a range of perspectives on the topic, agreeing on the causes but presented different opinions as to whether or not the crisis would have positive or negative effects on Latin America and the Caribbean. The discussion analyzed how increasing oil prices will affect various countries, and how they will handle the aftermath.


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