OPEC/OIL PRICES
Oil Price Slumps And OPEC’s Impossible Dilemma
By Professor Paul Stevens, Senior Research Fellow (Energy) Chatham House
Recently there has been much discussion over the prospect of lower crude oil prices. Memories are harking back to 2008. In early July 2008, NYMEX crude hit a record high of $147/B. Six months later it had fallen to $33/B. Fears of another possible price collapse are being driven by both supply and demand factors.
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