Oil prices fall: Who wins, who loses?
Oil prices fall: Who wins, who loses? Reducing oil prices usually brings a sense of happiness to the nations where it is most used. On average, every US citizen uses 10 liters of oil or oil-related products per day. But on the other hand, the decline in the price of crude for oil producing countries signifies disaster for millions. This is why oil is called 'black gold'. When the price of oil was high, the revenues from it were filling up the recommendations of oil producing companies and countries, with the same income the people of these countries were passing through and public facilities were available. But for such countries, oil is becoming more and more of a blessing. The International Energy Agency has already warned that this situation will affect most Nigerians, Iraq and Ecuador and their countries will reduce their income by 50% to 87%. It was estimated at $ 30 a barrel, but now a barrel of oil is less than $ 20. For the first time in the history ...