Oil’s slump of 14 percent in New York since OPEC met on Dec. 4 has struck fear into any remaining crude bulls. The last time the group rattled the market like this — after its November 2014 meeting — the pain was more than twice as deep. The message the Organization of Petroleum Exporting Countries delivered this month — that it will keep pumping until rival producers scatter — is really just a repeat of the stance taken last November. After that gathering, crude prices plunged 40 percent in seven weeks of losses as the market realized the global surplus would remain. A similar performance this time around would take prices down to the mid-$20s. OPEC member Venezuela warned that history may repeat itself. Pointing to the $20 collapse in crude after the November 2014 decision, the nation’s Energy Minister Eulogio Del Pino told reporters on Dec. 4: “If […]