The government coffers of oil producing countries are swelling, but drivers in consumer nations are paying more for their fuel. As Brent hits $80 a barrel, who are the winners and losers of rising crude prices, questions “Finantial times”.
Among the winners are the major oil producing countries and energy companies. In 2017 Opec and Russia began curbing supply to bolster crude prices and export revenues. Producer economies on the whole have benefited and the oil price is gaining further support as Iran has been hit by a new round of US sanctions and Venezuela’s energy sector is collapsing against a backdrop of an economic crisis.