Global Oil Alert
THE government should pay extra attention to the current drop in global oil prices. Decision makers in the economic sector should not be alarmed by the declining price of this 'black gold'. They should see it as a temporary trend and anticipate its negative consequences.
Many are shocked by the free-falling prices of global oil. Last week the price dropped to US$29 per barrel the lowest in the past 12 yearsa whopping 74 percent drop compared to the highest point on June 19, 2015, at US$114 per barrel.
January 26, 2016
THE government should pay extra attention to the current drop in global oil prices. Decision makers in the economic sector should not be alarmed by the declining price of this 'black gold'. They should see it as a temporary trend and anticipate its negative consequences.
Many are shocked by the free-falling prices of global oil. Last week the price dropped to US$29 per barrel the lowest in the past 12 yearsa whopping 74 percent drop compared to the
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