Who is responsible for the recent Oil price drop.
Posted on 2014-12-17
I hear several explanations for the recent oil price drop. These include, decreased demand in the Asian markets, increased production by OPEC to destroy the US Fracking industry, as well as increased supply specifically due to the US Fracking. And all of these by themselves and as a group are credible in explaining the current situation. However, there is one more factor that I would like to take into considerations and what would be a deliberate attempt by the West (mostly US) to destroy the Russian economy through low gas and oil prices, as a form of pressure for Russia's activity in Ukraine and Crimea.
How credible do you think that is?