The 12-year low oil price plunge explained Prices have been cut by approximately 60 percent since the summer of 2014 By Patrice Waite Published January 13, 2016 8:01PM (EST) (AP Photo) (AP/Hasan Jamali, File) Facebook X Reddit Email Save [jwplayer file=”http://media.www.salon.com/2016/01/oil.patricewaite.12.13.2016.mp4″ image=”http://media.www.salon.com/2016/01/low-priced-oil.jpeg.jpg”][/jwplayer] Advertisement: By Patrice Waite By MORE FROM Related Topics ------------------------------------------ Original Video Video Related Articles Advertisement: Advertisement: