Business Insider | How cheap oil will affect the global economy Business Insider When the oil price halved last year, from $110 to $55 a barrel, the cause was obvious: Saudi Arabia's decision to increase its share of the global oil market by expanding production. But what accounts for the further plunge in oil prices in the last ... Why Saudi Arabia won't cut oil production It will take much cheaper oil for Saudi Arabia to take action Exclusive: Arab OPEC producers brace for oil-price weakness for rest of 2015 |