Reviewing the plan: Progress towards the goal of reaching emerging market status
Gabon’s ambitious campaign to diversify its economy – now in its fifth year – may have gotten an unexpected boost from the manoeuvring of some of the world’s biggest oil producers. Following the OPEC meeting in November 2014, oil prices plunged. A push by OPEC member states to maintain high production levels in the face of growing US shale output resulted in a major drop in global prices. Brent fell from $95 per barrel in October 2014 to around $56 per barrel in April 2015, far below the heady heights of $147 per barrel in July 2009. Maintaining production levels was part of a strategy









