Year-end Sale % OFF 
Abstract
Even if you do not invest in commodities, you should more frequently take a look at the current price of crude oil. The oil price has fallen consistently in recent weeks and months. Currently only about $97 is to be paid for barrel. Yet this year, the price reached almost $120. The reason for the fall in prices is obvious: Less energy is needed and the industry produces less. The price of oil is one of the most important indicators. The electronics group Siemens is currently busy working in takeover and announced this in the past week. For the amount equivalent of about $6 billion Siemens wants the US-compressor manufacturer Dresser-Rand take over. The domiciled in the State of Texas Company is a supplier for the oil and gas industry. A part of Dresser-Rand deal Siemens can finance by selling the shares in the joint venture BSH Bosch and Siemens Home Appliances. Bosch acquires 50% stake from Siemens and pays 3 billion euros. In 1973, the so-called oil shock led in the equity markets to huge losses. At that time the crude oil price jumped from under $4 to about $10 a barrel. Back in 2005, the USA had to import 60% of its supplies from abroad. By 2014, however, the USA only needs to import 3% of its oil consumption. The oil revolution is paying off: too much oil is now on the market, causing prices to drop.
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
