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World Bank’s opinion on the steep fall in crude oil prices
Posted on: 08/Jan/2015 4:32:33 PM
There has been a continuous trend of reduction in the price of crude oil in the international market.
World Bank has expressed the view that this would be beneficial to the developing countries.
However, this has become a challenge for the countries which export crude oil.
World Bank has expressed that the countries importing oil will experience economic growth, reduction in inflation, and reduction in trade deficit.
As per the latest details received, the price of crude oil has crashed to below $ 50 per barrel and was selling at $ 49.66 per barrel.
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