OPINION

Global oil prices tumble to new normal

News, Mohamed A El-Erian, Published on 18/08/2015

» Oil prices have been heading south again, with a barrel of US crude recently falling below $42 (1,470 baht) -- the lowest level since March 2009, the nadir of the global financial crisis. And, while last year's sharp price drop was heavily influenced by two large supply shocks, the current decline also has an important demand dimension.