Publication date: 2016, June
Author: ERB
Description: In 2015, like the previous year, global economic and political conditions continued to challenge the energy sector. According to the International Monetary Fund (IMF), the global economy was projected to grow by 3.1 percent in 2015, 0.3 percentage points lower than in 2014. The decline in the economic growth was as a result of the lower commodity prices and tighter external financial conditions particularly in Latin America and oil exporting countries, the slow down in China, and structural bottlenecks, as well as economic distress related to geopolitical factors.
