What caused the oil price crash?

To get a keen sense of where the global economy is headed, we need not look any further than the beleaguered global oil market. Oil supply is in abundance, oil companies are on the verge of bankruptcy, storage spaces are filled to the brim, and the only thing lower than oil prices themselves is the current demand for oil. The phenomenon revolves around the demand and supply of oil, and the current excess supply of oil in the global economy can be attributed to two major factors. Firstly, recently Saudi Arabia and Russia got into an oil war. The feud ...

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from The Big Picture – The Express Tribune Blog https://ift.tt/2VvTZiC

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