The U.S. shale oil industry may collapse, new report says, after Goldman warns crude is set for a fall

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Australian think tank the Institute for Economics and Peace warns a sharp fall in the oil price will affect political regimes in the Middle East, especially in Saudi Arabia, Iraq and Iran.

Australian think tank the Institute for Economics and Peace warns a sharp fall in the oil price will affect political regimes in the Middle East, especially in Saudi Arabia, Iraq and Iran.