Everyone pays attention to oil prices. But very few people understand what controls oil prices -- or can predict where they’ll go.
Two years ago, a barrel of Brent crude was priced at $115. Today, it’s trading at around $35. In February, it dipped below $30.
The International Energy Agency recently warned that prices could fall even lower. “Unless something changes, the oil market could drown in oversupply,” the agency said.
In this week's show, Michael Levi, a senior fellow at the Council on Foreign Relations, will discuss the geopolitical and economic consequences of low oil prices in 2016.
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