Why Oil Prices Are Dropping

(International Energy Agency)

Brad Plumer, VOX: Why oil prices are still dropping — in one simple chart



WNU Editor: A small confession .... growing up in the old Soviet Union my worst class was economics (i.e. Marxist economics). Never bought into it .... even as a teenager I knew that "supply and demand" is what determines markets, and the government may try as much as it wants to influence "price and demand" .... but in the end it is market factors that will come into play. As to the price of oil ... the above graph does illustrate perfectly why oil prices are dropping .... and why it will continue to drop as long as production exceeds demand.