A 40 percent drop in oil prices since mid-June means hundreds of billions of dollars less for petroleum-rich exporters and a significant shot in the arm for import-dependent economies. | Tumbling oil prices are draining hundreds of billions of dollars from the coffers of oil-rich exporters and oil companies and injecting a much-needed boost for ailing economies in Europe and Japan – and for American consumers at the start of the peak shopping season.
Read More: As oil prices plunge, wide-ranging effects for consumers and the global economy