Pakistan (9th Mar, 2020): Oil prices fall by an almost thirty percent due to the rising tensions in the Saudi Royal family.  According to reports of Baaghi TV, the oil prices have dropped to as low as thirty percent. This is reportedly one of the biggest single-day drop till date. Delhi riots: Is India truly a democratic state? US Crude Oil (WTI) is down by twenty-one percent, equivalent to almost ten US dollars. Moreover, a single barrel is now being priced at approximately US $32.6. Reportedly, Brent Oil prices have also fallen by nearly twenty-one percent [ten US dollars] or US $35.8 per barrel. Turkey expects 1 million electric cars on roads by 2030 Moreover, following the failure of OPEC-Russia to contain existing supply cuts, oil crashes due to the potential price war between the Kingdom of Saudi Arabia, Russia and the Organization of the Petroleum Exporting Countries [OPEC], receptively. Resulting in a positive development for the Pakistan Macros. Apple’s iPhone supply hit by Coronavirus According to reports, massive decline in the oil prices should greatly lower the state’s energy imports and help to reduce the current trade deficit, which makes for an approximate four to five billion US dollars, … Continue reading Saudi Revolt: Oil prices crash amid clashes in the Royal family