Latest update from Reuters, Oil prices dropped to fresh lows during midday trading on January 20, with WTI dipping below $27 per barrel and Brent trading under $28. Get more lower and still going on
As we knew it before, The crash in oil since December has only deepened the pain for oil-exporting countries, even for those within OPEC. Of course Despite the cartel’s inability to agree on a production target at its meeting in early December, some of its members are clamoring for action.
Oil producer countries, Venezuela recently requested an emergency meeting in a letter sent to the other 12 members of OPEC. That is not necessarily news since Venezuela did the same thing last year, but there are growing fears that the South American nation may not be able to hold out much longer with oil prices so low.
Sources :Reuters
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