For most of its history, oil has flowed in one direction: from developing nations, where it is produced, to industrialized nations, where it is consumed. That pattern no longer holds true, and the shift could produce another economic force weighing on global oil prices. Oil prices have plunged since mid-2014 amid global oversupply, with U.S. prices falling $1.75, or 5.9%, to $27.94 a barrel Tuesday on the New York Mercantile Exchange. Emerging markets have accounted for the majority of global oil consumption since 2014, according to the International Energy Agency. Demand from developing countries amounted to slightly more than half of the 95 million barrels a day consumed in the fourth quarter of 2015. The shift marks a reversal after decades when the U.S. and other developed nations in the Organization for Economic Cooperation and Development dominated demand. With producing nations in the Middle East, Latin America and elsewhere […]