29 minutes agoOil Price Fall Continues
Periskopi(7 years ago)
(7 years ago)Influenced by the increase in production by OPEC member states and by fears of slowing economic growth that could cause weakening demand, the price of oil on Wednesday has dropped to almost $53 per barrel. Production in Russia has marked the record since the breakup of the former Soviet Union. On the other hand, the amount [...]
Production in Russia has marked the record since the breakup of the former Soviet Union. On the other hand, production has also increased in the United States and Iraq. Consequently, this price trend is expected to continue indefinitely.
The price of oil had begun to come down in 2018, for the first time since 2015, after buyers abandoned the market because of fears of poor economic growth. The current market situation has led to the first place of producers being the United States of America, followed by Saudi Arabia and Russia, writes “Reuters”.
