Public Interest & Accountability
Committee

PIAC Forum

Falling oil prices and the impact on government revenue
By PIAC   Posted date: 20th January 2016
Crude oil prices have been falling since July 2014, with significant declines recorded from October 2014. By mid-January 2015, oil prices had fallen dramatically to around a third of their peak level in June 2014 and despite slight recovery around mid-January, remain well below predicted levels. The recent fall in oil prices was one of the biggest in the history of oil production now reaching a 12-year low with a brief dip below the $30 per barrel mark. How this is affecting petroleum revenue and what government should be doing in the face of this global challenge are issues for public discourse. What are your views?
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