25 minutes agoFuel Price Counted
Periskopi(7 years ago)
(7 years ago)The weakening of economic growth is continuing to affect the price of fuel. During the present day, there has been a price drop for two percent, while concerns about low demand and unstable economic growth on a global scale are being affected. News of China's economic downturn has also caused weakness [...]
The weakening of economic growth is continuing to affect the price of fuel. During the present day, there has been a price drop for two percent, while concerns about low demand and unstable economic growth on a global scale are being affected.
News of China's economic downturn has also caused a weakening of value in Asian financial markets. China has reported on the worst economic growth in the last 30 years, while closing factories is expected to cause continued decline and job reduction. A barrel of oil on Tuesday was sold for $61.25.
The effects of these developments are being reversed in other countries. Economic growth in South Korea has fallen to the lowest level in the last six years, at exactly 2.7 percent. On the other hand, the International Monetary Fund forecasts that the world economy will grow by 3.5 percent, although in October of last year the increase was preceded by 3.7 percent.
Despite difficult circumstances, the price of fuels is being maintained due to the reduction of production by leading oil production states, which have started to implement by the beginning of this month, writes “Reuters”
