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IHS Quarterly sat down with IHS Senior Vice President Carlos Pascual, former US ambassador to Ukraine and Mexico and founder of the State Department’s Bureau of Energy Resources, to discuss the global political and economic implications of the decline in oil prices. IHS Energy is projecting the price per barrel of Dated Brent Crude will have bottomed out in mid-2015 before starting a modest climb back to the low-$70s by the end of 2016. While these shifts bring with them new opportunities, they also bring new risks.