Oil prices plunged more than 50 percent between mid-2014 and mid-2015. The Organization of the Petroleum Exporting Countries (OPEC) was widely expected to cut production in an effort to arrest the price decline. And yet OPEC did no such thing. Whilst observers were quick to declare that the cartel was over a barrel, the move marks a significant change in the geoeconomics of oil. Read more.
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