Every week, The WorldPost asks an expert to shed light on a topic driving headlines around the world. Today, we look at the impact of a steep decline in oil prices.
On Friday, the price of benchmark crude oil dropped to new five-year lows.
The price of oil has been plummeting for months, leaving oil-producing nations around the world aghast at their sinking revenues. Poor global economic growth has cut demand, while the U.S. is producing oil faster than ever recorded.
Prices fell further last month after Saudi Arabia and its Gulf allies blocked an effort at the Organization of …read more
Source: The Huffington Post
