Article Analysis Management Article Research Paper (Article Sample)

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Article Analysis
Name of the Article: Global Oil Supply to Swamp Demand in 2019 despite Output Cuts: IEA
Author’s Name: Amanda Cooper
Date of Publication: 13th February 2019
Source: https://www.reuters.com/article/us-iea-oil/global-oil-supply-to-swamp-demand-in-2019-despite-output-cuts-iea-idUSKCN1Q20WK
Article Summary
The article explains the expected shift in the prices of oil in the U.S. in 2019, as influenced by the decrease in production levels. The supply of crude oil from OPEC is believed to be high, and the market is most likely to struggle in absorbing the surplus. The excess amount in the production of crude oil has been attributed to lower prices as instigated by the upcoming projects in petroleum products in China and the U.S. This phenomenon is anticipated to cause a decline in economic growth. The article further explains that the U.S. has placed sanctions on the oil products from Venezuela and Iran since it can produce its oil to levels that meet their demand. Overall, the author posits that the amount of crude oil available in the U.S. in 2019 is in surplus, an aspect that has led to decreased prices. Therefore, the country will not allow more of the product to come in from foreign nations such as Iran and Venezuela.