History Repeats Itself When It Comes to Crude Oil
March 24, 2016 at 13:05 PM EDT
Crude oil has collapsed four times over the past three decades. In each case, the dramatic decline in prices was triggered by the oversupply of crude oil following a significant reduction in demand. The price of crude oil often took months or years to reach precrisis levels following these declines, while most of the price action was determined by OPEC decision-making.