OIL hits 2 year Low !! Crude oil prices are dropping like the - TopicsExpress

OIL hits 2 year Low !! Crude oil prices are dropping like the price of milk about to expire. Trading at $88 a barrel. The price has dropped from over $100 a barrel a few months ago. The United States is now producing as much Oil as the worlds two largest producers Russia and Saudi Arabia. With world growth and economies slowing the demand for oil is weakening. Saudi Arabia tried to stop the price decline by announcing they would cut production levels, but Russia in dire economic shape (including sanctions) are increasing production, which is making Saudi Arabia have to lower prices. Gas Prices should be dropping soon in a delayed reaction to the Crude Oil Drop

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