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What Caused the Collapse in Oil Prices?

Wall Street Journal : “The sudden plunge in global crude oil prices from over $100 a barrel to under $65 has been portrayed as a showdown between Saudi Arabia and the U.S., two of the world’s biggest oil producers. But the reality is more complex, involving Libyan rebels and Indonesian cabdrivers as well as Texas roughnecks and Middle Eastern oil ministers. It reflects both the surging supply of crude and the crumbling demand for oil.”  

Screen Shot 2014 12 12 at 2.34.52 PM 445x240 What Caused the Collapse in Oil Prices?

Topics: wonk-wire