Oil price drop may boost gas in long run

The latest drop in oil prices is making gas more competitive against fuels such as coal, and COP21 may give it a further boost The latest drop in oil prices is making gas more competitive against fuels such as coal, and COP21 may give it a further boost.
By Peter Stewart 16 December 2015 0 24332
Kuwait oilfield. The latest drop in oil prices is making gas more competitive against fuels such as coal, and COP21 may give it a further boost. (PA)

Oil prices plunged to six-year lows within a week of the recent OPEC meeting, which failed to address the global glut of crude triggered by Saudi Arabia’s decision to abandon its swing producer role a year ago. 

A number of OPEC members had made vague comments before the meeting, held in Vienna on 4 December, which some optimistic pundits took as being hints that the group might take action to boost prices. But the reality was bleaker than even the pessimists had expected – the final...

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