Oil prices fell again the week of November 9 to a more than a six and a half year low. Brent, the global benchmark for oil, traded at $43.61 a barrel on November 13. Global stockpiles are at a record three billion barrels of crude and oil products in tanks worldwide, according to the International Energy Agency. This is now the budget reality of oil-producing states. According to researchers at HSBC, Middle East hydrocarbon earnings are likely to be down $320 billion this year. Energy exporters are experiencing the most dramatic shift in their terms of trade in perhaps 30 years.