Positives and Negatives of Cheaper Oil
Oil prices have declined significantly since June 2014, and many economists expect prices to remain low into the immediate and medium-term future. According to a March 2015 World Bank report, “The cumulative oil price decline between June 2014 and January 2015 was the third largest of the past 30 years and was driven by a ‘perfect storm’ of conditions that exerted strong downward pressure on prices.”More