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Geopolitical fallout from weak oil prices

The impact of the plunge goes beyond the Middle East.

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While the collapse of oil prices is expected to deliver a financial blow to Opec and slow economic growth in oil-producing nations such as Iran, Russia and Venezuela, it should help energise the economies of oil-importing countries like Japan and India.

Washington

MUCH of the discussion about the dramatic changes taking place in the international oil markets that have brought about a more than 40 per cent fall in Brent crude since June, has been focused on the way that these developments could transform global economics.

Hence,

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