Tag Archives | reduced oil demand
Economics
What’s behind the recent oil price drop?
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The price of oil has more than halved in the period of less than 5 months since September 2014. After nearly 5 years of stability, the price of a barrel of Brent crude oil in Europe fell from $117.15 on 6 September 2014, to $45.13 on 14 January 2015. Figure 1 shows the movements in the spot price of crude oil from June 2009 to February 2015, including the recent price drop.
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