Shale oil boom and OPEC's strategy lead to global oil price slump
The article explores how changes in oil prices affected oil trade in 2014-2015. The researchers looked at different factors influencing oil prices, like supply and demand, economic growth, and OPEC policies. They found that the drop in oil prices was mainly due to increased shale oil production in the US and OPEC's strategy to lower prices. The study suggests that OPEC's decision to reduce oil extraction in 2016 will likely impact the global market in 2017.
