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The Global Impact Of Low Oil Prices

Published July 27, 2015 at 1:20 PM EDT
An idled pump jack, once used to extract crude oil from the ground, sits above a well on the edge of a farmers field on January 21, 2015 near Ridgway, Illinois. With oil prices near a 5 1/2-year low, oil companies are beginning to slow drilling operations in the United States. (Scott Olson/Getty Images)
An idled pump jack, once used to extract crude oil from the ground, sits above a well on the edge of a farmers field on January 21, 2015 near Ridgway, Illinois. With oil prices near a 5 1/2-year low, oil companies are beginning to slow drilling operations in the United States. (Scott Olson/Getty Images)

China’s stock market dropped 8 percent last night, sending oil prices to a four-month low. China is the world’s biggest energy consumer and a large oil importer, and as the Iran deal looms, there is significant uncertainty in the world’s oil markets.

Here & Now’s Jeremy Hobson speaks with Phil Flynn, senior market analyst and author of The Energy Report for The PRICE Futures Group about global oil prices in the face of the China and a worldwide oil glut.

Guest

Copyright 2021 NPR. To see more, visit https://www.npr.org.

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