Who the Oil Price Collapse Hurts Most in Latin America
Who the Oil Price Collapse Hurts Most in Latin America
From Argentina to Mexico, oil producing countries will suffer, but some may face disaster.
Collapsing oil prices amid the COVID-19 crisis are reshaping economies across the globe and Latin America will not be an exception Prices for the Brent crude went from close to $70 per barrel, in January, to less than $20, in April In the case of the US West Texas Intermediate (WTI) marker, the downfall has been even more pronounced, reaching record lows Following a golden decade of very high prices, the low cycle that began in 2014 had already drastically impacted oil producers The more profligate countries during the booming years were already in trouble But the current collapse...
Read this article on the Americas Quarterly website. | Subscribe to AQ.
