World can’t ignore what happened with oil price: oil reached the lowest level since August 2011.
Oil is going down, saudi didn’t limited oil export ,investors wondering ,”why is all that?!”
I think we are facing oil war but who’s participate in this ?
The glut of oil in world markets has been weighing on markets, and OPEC has vowed not to cut production as prices fall. “The market continues to react to the oversupply in crude oil and the reiteration by Saudi Arabia that it is not cutting production.
The second issue stems from overproduction of oil in the U.S. There has been a 71 percent increase in oil production since 2005, along with increased popularity of fuel-efficient cars and trucks because almost 90% on oil is for cars.
I think world should think about something else like : solar energy,hybrid cars and electric cars so we can decrease oil demand and price increases.
At end market will obviously correct it self at somewhere ,and now it time to country that doesn’t export oil to take benefits from this crisis like my country Jordan .