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Articles on Oil price

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Will it put Russia in the black or red? Nata789 via Shutterstock

Huge Russian rate hike plays roulette with the economy

Russia’s Central Bank has raised its key interest rate from 10.5% to 17% in an emergency move that is designed to halt the ongoing collapse of the rouble, which has accelerated in recent weeks. The dramatic…
Oil prices have dropped to levels not seen in years. It’s not all good news. Reuters

Oil price drop offers short-term gains but long-term pains

The recent drop in crude oil and gasoline prices in the United States is a nice stocking stuffer for consumers this holiday season, but it could turn into a lump of coal. A global oil glut has caused the…
In the 1970s, refineries in the Middle East controlled the world’s flow of oil. Not any more. National Iranian Oil Company/Wikimedia Commons

OPEC v oil prices: how the world’s biggest oil cartel lost its power

With oil prices on the slide, members of the once-dominant Organization of the Petroleum Exporting Countries (OPEC) decided last week not to attempt to rally them by cutting production, leaving the Brent…

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