Now the petrol and crude oil prices are slashed down. whether it will be remain constant or?

The asian countries inflation is decided mainly on the price of crude oil and petrol. because of that only ,the countries basic needs are fulfilled and if the petrol or Diesel prices are low, then the transportation of the products will be cheap. so global market and also local country market and mainly people are mostly benefited. we wish the crude oil prices will remain low as like before.
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3 Responses to “Now the petrol and crude oil prices are slashed down. whether it will be remain constant or?”

  1. ZK Says:

    they won’t remain low forever because OPEC is cutting production. As a result there will less supply which will increase the prices.

  2. Sophie B Says:

    Opec says they are cutting production to raise oil prices back to about 80.00/ per barrel… real reason is they have a 60 day surplus right now

    Once the arabs ruined the world economy, they pulled down their own house too…

    ( the latest form of terrorism….Destroy the entire worlds economy, so everyone becomes a third world nation)

  3. Steve qa Says:

    The Asia is issue is that the largest drop in demand is form china, and their social & logistical nightmare that has lead to to China’s exports dropping 11% for the year. This issue has caused their GDP to drop 22% in 2008 and that is like taking are GDP drop for the year and multiplying by 20. The next future drop will be in commodities, and that is a result of the fact if you can’t make it you have to sell!

    The next China is India and India has more Billionaires then any other country in the world.

    Low oil prices in a recovery means industrial growth, and that means millions of jobs & huge jumps in GDP.

    OPEC only controls 32% of the worlds oil, and 40% of its member countries are not in the Islamic world.

    The problem with OPEC making production cuts that has slowed them is only Saudi Arabia can afford it as some OPEC members already are down to 50,000 barrels a month, and the bigger problem is that OPEC often makes cuts while members tend to just pump any way defying OPEC.

    OPEC only produces 1,380,000 barrels a day already, and the United States consumes 19.6 million barrels per day. OPEC has 32% of the reserves but less then 10% of production, and 4 million barrels a month the current cut is only 125,000 barrels a day. This will not even have physiological impact because reserves being explored in non OPEC nations are increasing 11% a year, and the futures market sets oil prices. A 11% increase is 1/3 of OPEC’s total reserve just this year made pointless, and oil was inflated for so long that these falls have been long in the making