The oil price plunge since last June has been deemed, overall, as a boon for the global economy. However, that depends on where one stands as a producer or user, as illustrated here with the divergence of impacts on BRICS economies.Lower oil prices have come for long
Brent crude oil prices fell to US$45 a barrel at the end of January, from as high as US$115 in June last year, marking the end of a four-year period of fluctuations in the range of US$93-$118 (Chart 1 – left side). They have recently rebounded to levels close to US$60 but …read more
Source: The Huffington Post
