Why the oil plunge isn't bad for Iran
As the price of oil falls below $63 a barrel, OPEC producers have still not agreed on cutting oil production over fears that they will lose their share of the market. The falling oil prices are hurting Iran which already has a limited quota due to embargoes, but interestingly, the falling prices are also negatively affecting the United States. Saudi Arabia, for its part, refused to reduce production for reasons of its own. According to the International Energy Agency, oil prices have declined since June due to slow demand and a U.S. shale ...
Click
To Read Full Article