re: The Last Time The Price Of Oil Crashed Like This?

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Today the fall is not due to fall in consumption but due to growth in output.

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Not quite true. The fall today is due to the Saudis playing "who has the deepest pockets". The primary targets are Russia and Iran, with US fracking a distant second.

The Saudis are pissed at Russia for propping up Assad in Syria. There are rumors that the UN may ease oil sanctions on Iran, so the Saudis are trying to give them a pre-emptive corn-holing in case that goes through.

Fracking in the US has pushed us closer and closer to energy independence. They don't like that so dropping the price of oil (they haven't ramped up output, just dropped price) to where fracking isn't profitable is their way of trying to take out some of the competition here.

Russia's economy is tettering on collapse already and they don't have the will to keep prices down low enough for long enough to put enough US fracking firms out of business for good. Enjoy it while it lasts though