As Oil Prices Plunge, Wide-Ranging Effects For Consumers And The Global Economy -- Steven Mufson, Washington Post
Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan — and for American consumers at the start of the peak shopping season.
The result could be one of the biggest transfers of wealth in history, potentially reshaping everything from talks over Iran’s nuclear program to the Federal Reserve’s policies to further rejuvenate the U.S. economy.
The price of oil has declined about 40 percent since its peak in mid-June and plunged last week after the Organization of the Petroleum Exporting Countries voted to continue to pump at the same rate. That continued a trend driven by a weak global economy and expanding U.S. domestic energy supplies.
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More News And Analysis On The Impact Of Declining Oil Prices
Saudi Arabia will not cut oil production unless the U.S. follows -- The Telegraph
Oil Prices Resume Skid as Supplies Weigh on Market -- WSJ
Iran, Venezuela, Russia may face pain from cratering oil prices -- Market Watch
Renewed Slide in Oil Price Hits Russian Ruble Again -- WSJ
Russia expects recession in 2015 as sanctions, oil prices bite -- Reuters
Russia to fall into recession amid sanctions and plunging oil price -- The Guardian
Iraqi Government and Kurds Reach Deal to Share Oil Revenues -- NYT
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices -- WSJ
Oil Shock Streaks Across Globe From Moscow to Tehran to Caracas. Ready for $40? -- Gregory Viscusi, Tara Patel and Simon Kennedy, Bloomberg Businessweek
Oil Prices Headed For $30 A Barrel, Threaten Global Stability: Analysts -- Huffington Post
Oil prices, OPEC, and the future of energy -- David J. Unger, CSM
Why America’s Fracking Revolution Won’t Be Hurt (Much) By Low Oil Prices -- Brian Dumaine, Time
Despite Glut, U.S. Firms Aren’t Likely to Slash Oil Output -- WSJ
OPEC is wrong to think it can outlast U.S. on oil prices -- Market Watch
OPEC Can’t Defeat U.S. Big Oil by Flooding the Market -- Paul Stevens, Newsweek
Cramer's spells out oil's worst case scenarios. -- Yahoo
What Plunging Oil Prices Mean For US Consumers, Petroleum Producers, Oil Service Companies -- Jessica Menton, IBTimes
Oil prices are plummeting: Who wins and who loses? -- Aaron Task, Yahoo Finance
America defiant in 'oil war' with OPEC -- CNBC
Hooray for cheap oil -- Robert Peston, BBC
How Low Will Oil Prices Go? -- Karim Rahemtulla, Wall Street Daily
How Low Can Oil Go? -- Jesse Colombo, Forbes
After A Bloodbath In Oil, What Next? -- Christopher Helman, Forbes
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