If it was regular supply and demand, yeah, but the price drop is due to the price war between the oil-producing nations, trying to raise their profits after what's basically been price fixing by OPEC.
Edit: Yeah, I imagine eventually it'll go back up, when things normalize, but right now it's low because they're all trying to suddenly undercut each other, either through fear of not selling as much oil because someone edged them out, or some other reason. I guess it's like, if burgers suddenly became unpopular in favor of say, pizza, McDonald's might drop the price of a quarter pounder to 3 bucks to lure business back, then BK, Carl's JR, etc would have to do the same to compete, and would go into a hamburger price war.
Damnit now I'm hungry.
« Last Edit: January 11, 2015, 06:24:35 AM by Phaedrus »
No one mourns the wicked.