Dairy’s fortunes linked to oil, Bagrie tells SIDE

Dairy’s fortunes linked to oil, Bagrie tells SIDE

Reading Time: 2 minutes Oil and dairy prices are closely linked, says economist Cameron Bagrie. “You don’t see oil prices drop by 10 bucks a barrel in the space of a couple of days for no reason. Watch this space,” he told a breakfast event during the South Island Dairy Event (SIDE) in Timaru. He spoke about the tariff situation in the United States, noting that the US dollar is considered the world’s reserve currency mainly because the country …

Crude oil prices have hit four-year lows, a warning sign about the direction of the global economy. The decision by OPEC and its allies to increase production could be a handout to the United States.