Oil Price Plunge: Winners and Losers

Posted December 29, 2014 at 5:10am

The Associated Press reports that “oil’s plunge is spreading both pain and gain across the globe.”  

“The price of a barrel has fallen by about half since June, punishing the economies of some major exporters. Russia’s currency has nose-dived, for instance, and investors worry Venezuela could default on its debt.”  

“For countries that consume a large amount of the world’s oil, it’s a different story. The world’s four biggest economies — U.S., China, Japan and that of the European Union — all benefit from lower oil prices.”