Plummeting Oil Prices: The Impact on the Economy and Different Markets

According to Cushman & Wakefield Industrial Research:

“As we enter 2015, ‘uncertain’ has become the word most attributed to the price of crude as it has dropped by more than 50% from its June 2014 peak of $115 per barrel. The price plunge is a major boon to the U.S. economy – estimates of the average household benefit range from $550 per year to $1,100 per year or more. However, U.S. oil-producing states, such as Texas and North Dakota, are feeling the pinch and are likely to see a drop in revenues and economic activity. Other states that rely heavily on oil production, like Alaska, Louisiana, New Mexico, Oklahoma, Wyoming and West Virginia are also apt to feel some economic impacts.”

Want to see the data? Read more here.

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