• What's at the root of low oil prices?

    We’ve all been enjoying lower prices at the pumps – since Summer 2014 in fact, but why has the price of petrol come down when historically they have only ever gone up?

    Well, we’re in the middle of an oil price war – between the US and the Opec countries – made up mainly of the Middle East countries including Iran, Iraq, Saudi Arabia and Kuwait.

    The US has hit upon vast reserves of shale oil, enabling it to increase production of oil over the last 7 years and become virtually self sufficient in energy production. However, the Opec countries have risen to the challenge, increasing production too, to drive down prices and cut...