Unregulated World Oil Market Is A Peace For South Sudan

Dec 8, 2014 | Gurtong
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No More Resource Curse: Unregulated World Oil Market is a Peace for South Sudan

Faced with US sale oil boom and lower global oil demand, oil cartel, OPEC met on 27 Nov, in Switzerland to discuss a way forward for the plunging oil prices. That meeting ended with no tangible breakthrough, in that its members failed to cut production to boost oil prices, and therefore decided to allow free hand of the market to reign.

However, with such dim prospects of falling revenues from oil, South Sudan economy is in tatters.  It would be hard for government to keep operations and projects afloat in such a dicey environment where its expenditures outweigh revenues. And yet there are two wars to fight – Dec. 15, 2013 Crisis and Nation Building.