By the time this article goes to press, oil prices will have suffered huge losses, approaching fifty per cent of their value of just five months ago. The decline in the price of a vital commodity on which some state budgets depend almost completely doubtless brings back memories of previous oil price collapses, and the great suffering of the people of these countries. The deterioration (if not collapse) of oil prices has overshadowed all other political issues. Energy consumers who have suffered from high oil prices for years are gaining, while producing countries are losing out and watching their revenue …read more
Source: ASHARQ AL-AWSAT
