Question:
Crude oil prices have been on the declining trend since the middle of 2014, where there was a recorded drop of more than 50%. Prior to that, oil prices were moving in a band of between US$100 to US$120 per barrel since 2009. Oil price movement has both positive and negative implications to different countries. What are the factors contributing the current drop in the world oil prices? Is this episode of oil price drop good or bad for the world economy?