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Oil prices plummet worldwide as OPEC infighting intensifies

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Iran president: Cartel failure to cut production a ‘conspiracy against Muslim world’

By David R. Sands - The Washington Times

As the infighting among the world’s oil producers heats up, the global price of oil is heading down.

Open sniping between leading members of OPEC put new downward pressure on oil prices, with the price of benchmark U.S. crude falling another 5 percent, or $3.07, to $60.75 a barrel in trading Wednesday. Oil prices, which topped $107 this summer, have now fallen more than 40 percent since June.

 

Read more: http://www.washingtontimes.com/news/2014/dec/10/oil-prices-plummet-worldwide-as-opec-infighting-in/#ixzz3LhZPfZRp 

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Guest Wednesday, 13 November 2019