27 November 2014

Oil war continues

Current price of Oil is $ 69 per barrel, if price drops to $ 60 per barrel, shale fracking will be considered as non cost-effective. This will have huge impact on one of the biggest oil producers, USA, Russia will be hit just as hard. It almost seems like that countries are willing to topple down our economy just to take your rival with you.

With this political pressure in mind the price of oil may reach $ 50 by the end of the year, which could completely crash the economy of a country like Russia.