Oil prices are continuously falling despite announcement by OPEC to cut production. The prices are declining because of reduced demand from the people. The phenomenal increase in oil prices have played havoc with the economy of developing countries as they are faced with a balance of payment crisis. I hope that the oil producing countries and world leaders would take steps to check artificial increase in prices in future.
Oil prices are continuously falling despite announcement by OPEC to cut production. The prices are declining because of reduced demand from the people. The phenomenal increase in oil prices have played havoc with the economy of developing countries as they are faced with a balance of payment crisis. I hope that the oil producing countries and world leaders would take steps to check artificial increase in prices in future.
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