The oil price Conundrum
As the saying goes, everything that goes up had to come down. The same holds true for the price of oil, which has seen a slide of around 55% in just three months. At one point of time there were even predictions that prices would reach $200 a barrel. However, currently, the price of oil has dropped to $68 a barrel, from a high of over $147 in July this year. But the question is how and more importantly, why did this happen, and in such a short time.
- Shebonti Ray Dadwal
- October 24, 2008
- IDSA Comments