Who Governs Global Oil Prices?

... However, by 1986 prices took a sharp nose-dive to a mere $21 per barrel. At this point USSR collapsed, partially due to its economic machine being heavily reliant on petrodollars... ... early 1990s newly established Russia started to stabilise, but was quickly offset as oil prices plummeted to just $12 per barrel by December 1998 as the Asian Financial... ... inflationary repercussions. As a result, this huge liquidity is invested back into the large developed economies that also tend to be the actual consumers of oil. It is an incredible...