Oil war: How US and Saudi crashed crude prices to hurt Russia, Iran, Venezuela in 2014
Geopolitical Economy Report
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The Oil Market Is Not Some Sensible Being
The price of oil went from around $130 to around $40 in the span of a year, a little over a year. This is not just the vicissitudes of the market operating; this is a product of geopolitical forces and political decisions that were made by governments. The Guardian newspaper notes, Washington is trying to drive prices down by flooding the market with crude. It's titled Steaks are High as US plays the oil card against Iran and Russia. Now, I think this article probably better than any other single article explains the strategy here."
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