The oil shock of 2020 appears to be here – and the pain could be wide and deep
- Written by Scott L. Montgomery, Lecturer, Jackson School of International Studies, University of Washington
Suffering from sanctions, Russia is trying produce more and gain market share. Yegor Aleyev via Getty ImagesThe world is again undergoing an oil shock.
Prices, already on a downward trend, have collapsed 30% in less than a week, bringing the total fall to nearly 50% since highs in early January. Consumers, of course, can expect gasoline prices to...
Read more: The oil shock of 2020 appears to be here – and the pain could be wide and deep