How low can oil go?

Falling oil prices seemed to level off in mid-October, quelling fears from the market that has seen the S&P 500 index drop 5% in only one week. Just when the oil market was acclimating to the $80 per barrel scene, Saudi Arabia delivered another jab to the United States energy industry. The de facto leader of the Organization of Petroleum Exporting Countries (OPEC) cut its export crude price to $77 in the United States and raised prices elsewhere, but it has yet to admit to waging a price war against the West.


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