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The high price of cheap oil - The Week Magazine
The Week Magazine | The high price of cheap oil The Week Magazine "The oil industry, with its history of booms and busts, is in a new downturn," said Clifford Krauss at The New York Times. The price of oil closed under $40 a barrel this week for the first time since 2009, a 60 percent plunge from its peak last year. For OPEC, this year's painful oil slump will bring gains in 2016 How cheap oil will affect the global economy Saudi credit default swaps fall sharply on oil price recovery |
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