Riyadh: According to reports, the oil prices in the global market have declined on Wednesday and it has fallen to the lowest level since 2002. According to French news agency AFP, the fall in oil prices has continued despite the recent drop in production by oil-producing countries. According to sources, the price has dropped to $ 20 a barrel, after which the decline in the global market will have far more profound effects on the global economy Meanwhile, global market researchers say that for the first time in fifty years, such prices have been so low, economists say the effects of oil prices will be profound in the ’20s. According to experts, this is the largest decline in the production of crude oil in history. OPEC Plus is comprised of OPEC member-owners and non-oil producing countries in which Russia is the leader. Oil prices rebound, but languish near 18-year lows US President Trump has intervened to simplify Mexico’s terms, under which Mexican oil production will be reduced compared to OPEC Plus countries. He also thanked Abdul Aziz and President Putin of Russia. Kuwaiti Minister of Petroleum Khalid al-Fazal said in a tweet that ‘oil production reduction agreement will be in … Continue reading Oil Prices Plunging Down in the Global Market