Will it affect American economy very badly? Or do we have sufficient supply for our own needs?What happens to the middle east,s oil, if prices goes below $50.00 ?
Middle east would still continue to make money even at 50 surely there profits would be down but then this is about the just price of oil.
not sure why you saying that this would hurt americaneconomyy, in fact lower oil prices are a blessing for US.What happens to the middle east,s oil, if prices goes below $50.00 ?
If it goes below 50 bucks, then middle eastern people will try to cut output to see whether the price will increase or not?
Usually, americans and china are the largest consumers of oil in the world.So, until there is some positive sign from stockmarkets from these countries, Oil price will not increase..............
it will lower gas prices in the state and that will be good on drivers
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