As predicted, countries dependent on oil revenues to fuel their economies are increasing production in the face of declining prices in a desperate attempt to stay afloat. Of course, the new oil is simply forcing the price even lower as the glut grows. Despite what some may say, cheaper oil is good for America, good for Americans and good for all the non-oil producing countries on the planet. It is bad for OPEC, its member states and Russia. I can live with that.
Russia Iraq Supply Most Oil in Decades as 2015 Begins With Glut - Bloomberg
Russia Iraq Supply Most Oil in Decades as 2015 Begins With Glut - Bloomberg
