Very interesting self explanatory graph on the left (click to enlarge). Oil price control 'gloves are off' and the price has 'collapsed' losing 20% since the summer as Saudi strategy changes and a fight for market share ensues..."That means there is not an immediate floor on oil prices"...as if we needed anything else to worry about!
The OPEC 'split' belies the fact that this is relatively minor on a historical scale and dropping to 60 or 70 would be the real worry but the fact that so many countries 'need' the price over USD100 a barrel is a worry in itself.
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