negative prices

What influences oil prices?

Oil prices have a significant impact on share markets. We have recently seen oil prices plummeting with US oil prices turning negative. This unbelievable situation has led to global share markets to fall as well. In this article we discuss what can influence the price of oil. 1.OPEC OPEC stands for Organization of Petroleum Exporting Countries. It is a cartel which consist of 12 oil-producing countries. They include Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, The United Arab …

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