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December 16, 2014

Why oil is down, and what it means for you

  • A global imbalance of supply and demand that is rippling across the world economy, for better and worse.
    • By JONATHAN FAHEY
    AP Energy Writer

    NEW YORK — The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.

    The price of a barrel of oil is just under $58, down from a summer high of $107, and lower than at any time since the U.S. was still in recession in the spring of 2009.


     
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