The commodity downturn that began in 2014 has entered into its third year of devastation. The commodity markets went into a slump in the second half of 2014 due to the oversupply of oil in the global markets, caused by the Organization of Petroleum Exporting Countries’, also known as the OPEC, decision to maintain high production levels to defend their market share against the booming tight oil production in the US. The result was that the world witnessed its worst ever commodity trough.
The commodity downturn that began in 2014 has entered into its third year of devastation. The commodity markets went into a slump in the second half of 2014 due to the oversupply of oil in the global markets, caused by the Organization of Petroleum Exporting Countries’, also known as the OPEC, decision to maintain high production levels to defend their market share against the booming tight oil production in the US. The result was that the world witnessed its worst ever commodity trough.
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