In last one and half year, the Global oil prices have fallen sharply. From 2010 till mid of 2014, the oil prices were fairly stable above $100 per barrel, however, currently the prices are below $50 per barrel. Reasons There are several reasons for this decline. Firstly, the demand is low because of weak economic
US will expectedly lead revival for the developed world and India for the developing world with oil prices on a downward spiral followed by other commodity prices. The economies are no longer exclusive but are greatly intertwined with each other. The workers are becoming global players so inflation is no longer a domestic policy concern.