From Arab News: Oil markets are facing a major slump — for a number of reasons — and continue to stream further down. As I write these lines, prices are already in the vicinity of $50 a barrel. Rather than seeking a ceiling, crude markets now appear looking for a floor — somewhere — at respectable levels.
What a transition indeed. And indeed this transformation is not without ramifications, of considerable magnitude, one can easily deduce. Crude markets have entered a phase where, due to low prices, the incentive to invest in the industry is getting less and less….. Full Article: Source