The ongoing slump in oil prices, which has seen crude fall so sharply from the 52-week high set in October that $1 trillion has been wiped off energy stocks, will cut deep into the pockets of major producers like Saudi Arabia, Russia, Nigeria and Angola. As the world heads into an “unprecedented time of uncertainty” in oil markets, however, it’s not only OPEC members who will suffer. Even countries who are less naturally exposed to fluctuations in oil rents, such as Malaysia and Canada, are more vulnerable than usual to the current oil price crash thanks to poor policymaking. Record losses As recently as early October, Brent crude was trading at almost $87 per barrel, amid predictions of $100 a barrel. Since then, the commodity has endured an unprecedented run of losses. Affected simultaneously by a glut in supply and a drop-off in demand, oil is now valued at […]