Russia's economy is failing, but that gives it a chance to reform

Written by Dr Richard Connolly. Since the summer, the global price of oil has plummeted. After hovering above the US$100 per barrel level since 2010, prices have declined by around 40% in the space of just a few months. Brent crude has fallen below the $70 a barrel mark, with OPEC's recent decision to leave production levels unchanged raising the possibility that oil prices may have further to fall.