Will there be another oil crisis similar to 1986?

 

 

 

Will there be another oil crisis similar to 1986?The director of the Center for geo-economic research at the  Maurice Greenberg Independent Council on Foreign Relations, Michael Levi published an article about the impossibility of long-term low oil prices. According to Greenberg, current market conditions significantly differ from the ones which existed in 1986 when a powerful energy crisis erupted.In his article published in National Interest he says that modern technologies of oil production differ greatly from the ones used in 1986, when only traditional sources of oil were used. Nowadays there is very little traditional sources of oil left and new technologies of oil extraction require bigger investments.As a result, according to analysts, this factor will balance the market much quicker than in the 1980s. 

The director of the Center for geo-economic research at the Maurice Greenberg Independent Council on Foreign Relations, Michael Levi, published an article about the impossibility of long-term low oil prices. According to Greenberg, current market conditions significantly differ from the ones which existed in 1986 when a powerful energy crisis erupted.
In his article published in National Interest he says that modern technologies of oil production differ greatly from the ones used in 1986, when only traditional sources of oil were used. Nowadays there is very little traditional sources of oil left and new technologies of oil extraction require bigger investments.
As a result, according to analysts, this factor will balance the market much quicker than in the 1980s.