The electrocardiogram report of crude oil is baffling and brings a myocardial infarction to the observer.
What a steep rise in early 2008 and what an animated fall in november 2008. It was 147$ in mid March ,and 39$ today.A drastic tumble.
As the surge was beyond comprehension, the downtrend is also beside irrelevance.
Both are unbelievable. Both make us look deep into the graph. Analysing we find , the upward march was transitory, the sudden spurt down will also be fleeting.
The cut in production of OPEC nations ,has not promoted the falling prices. This is bit confusing. The universal formula of supply and demand does not make much sense here.
The nations Venezuela and Saudi ,whose economy depends on oil resources are badly afflicted., by the oil’s thundering thuddy fall.
The OPEC , in its own interest and in the interest of the consumers, fix a price, which includes a reasonable profit.
The world stands to gain. Prosperity will bring cheer. Cheer will usher unity. Unity will lead to Peace.
Peace on earth and goodwill towards men is the God,s message delivered