| Oil hits new low of less than $32 per barrel and could plunge further, increasing pressure on US and Middle East producers. The current oil rout is now worse than any since 1970, with the price of Brent crude slumping from $115 a barrel in the summer of 2014 to an 11-year low below $32.
The slump has roiled global financial markets and oil exporters. But for many of us, cheaper oil is a good thing. However, the strain of cheap crude is beginning to mount. Who will the winners and losers be if oil prices stay low?..............................................Full Article: Source
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