http://www.economist.com/blogs/buttonwood/2014/11/oil-and-markets
Oil in stock market fell 6.7% yesterday and OPEC decided not to cut production which has lead to lower gas prices around the country. Many currencies linked to the price of oil have dropped with it including the Canadian dollar and the Norwegian krone.
A falling oil price is positive for the global economy as it acts as a tax cut for western consumers. It doesn't hurt the oil producers as they don't consume as much. Now economists are wondering if this will cause the Euro zone to go into deflation because of lower inflation rates.
I think this was a big issue and one that may have a negative effect with either decision. In the end, OPEC decided that the United States may not be able to maintain its current production which will in turn lower the world's supply of crude. We'll see if the United States can maintain its current pace.
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