Now I understand why the price of oil is low despite all the fighting in Syria, Iraq, Libya and everywhere else. Its the American way of punishing Putin Russia for daring to stand up to them in the Ukraine crisis. Now Russia is reeling from the low price. Its economy is in deep trouble. The price of oil will remain low until Russia cave in but will they? Anyway, the world will benefit from this situation although not all. Some airlines are already feeling the heat. The price is low but they are unable to take advantage of it due to oil contracts they have signed earlier. Oil companies are also having to scale down their profit forecast. Oil exploration have to stop as the cost of producing is higher than the selling price. They are caught between the devil and the deep blue sea.
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