| With the global economy teetering, the Organization of Petroleum Exporting Countries is coming under pressure to lower the price of oil before another worldwide recession does it for them.
Every recession since the 1970s has been preceded by a spike in oil prices, and it would appear as though we have just experienced another such jump. After dropping below $40 a barrel in early 2009, the price of West Texas Intermediate crude oil almost tripled in the ensuing two years, topping out at $115 a barrel earlier this year before dropping back to its current level of around $100...............................................Full Article: Source |