Woes Spill Over In Oil Market; Who To Blame For Price Crash?

Woes Spill Over In Oil Market; Who To Blame For Price Crash?

WTI crude oil prices tumbled for the fourth straight week to hit a six-week low of $44.22 per barrel on the persistence of bearish fundamentals, which seem to be derailing Opec’s efforts to balance the oil market, at least in the short term.

Rising US production and drilling activities are the biggest hurdle for Opec this time, which seem to be undoing all the efforts made by a troubled empire of the sheikhs. Read more

Credits:economictimes.indiatimes.com

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