Are We about to Witness the Biggest Oil Crisis since 1986?

... particular argues that the oil crash that we are witnessing now may be even worse than the oil glut of 1986. In December that year oil prices fell from $23.29 to $9.85 sparking chaos in the markets throughout the globe. Some even argue that the 1986 oil crisis predetermined the collapse of the Soviet Union. Analysts draw parallels between the oil price dynamic in 1986 and 2015 based on similar trends that prevail in the market at the time. OPEC’s decision to sustain daily oil output over supporting the price of crude is one of such factors. Analysts also single out rising volatility and falling US Treasury yields as other contributing factors. In theory the global oversupply of oil ...