Oil price is a tool and is not so much affected by world events as used to affect world events. Most oil producing nations (after the 70s opec shocks) have enou

Oil price is a tool and is not so much affected by world events as used to affect world events. Most oil producing nations (after the 70s opec shocks) have enough money and stockpiles that they can control production to affect smaller producers and consuming countries. Some of the results of the current low oil prices: reduced income for isis, reduced income for russia competitive pressure on shale oil, gas, solar and electric vehicles (although that one now seems to be driven by tech/luxury appeal rather than by being more economical). The first two have the smell of foreign policy about them.