03.11.2014 - Regan: Why OPEC is fine with falling oil prices
Chances are you've been feeling a bit better about the economy in the last couple of months — and that optimism may have nothing to do with the stock market. Instead, you can thank lower prices at the gas pumps, a welcome boost to consumer spending power. Despite increasing tensions in the Middle East, the nationwide average for a gallon of gas stands below $3 for the first time in four years — a roughly 20% drop from June levels. And OPEC, the oil-producing group that controls an estimated 40% of world supply and aims to keep oil prices as high as it can, seems to be just fine with that...............................................Full Article: Source
Print