Outline the reasons for the fall in the oil price over the last 12 months. OPEC is probably the world’s most famous cartel. Why has this cartel failed to maintain oil at over US $100 per barrel and what are the implications of this?

The world’s principal central banks (US Federal Reserve, BoJ, BoE and the ECB) have engaged in monetary strategies such as low/ zero interest rates, quantitative easing and now, in some cases, negative interest rates to try to boost growth. Explain this journey. Is a cash-less society the next step down the road?

 
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