LONDON – Crude oil’s price is expected to further fall up to $ 40 per barrel in international market which is a big threat to Russia’s stability, PakistanTribe learnt from international media reports.
According to British finance analyst Pol Stevenson Price of crude oil is expected to fall further in international market which will make Russia suffer economically.
It is also expected that this oil price fall in international market may result the same scenery to Russia as it faced 30 years back and could not stand further.
“International Market is giving a falling trend in oil Price. This expected further decrease will effect Nigeria, Venezuelan and oil exporting countries badly as well as they have set their national economy’s dependence on $ 100 per barrel for oil export and did not take solid steps against price fluctuation in international market,” expert believed.
A critical financial and political instability may meet to the world especially to oil exporting countries if the same prices sustain in international market for long.
It is important to highlight here that oil prices in Pakistan has also decreased but it is said that this was only an attempt to release political pressure of sit-in politics otherwise price hike in petroleum products is expected in Pakistan’s domestic market due to its financial agreements with IMF.
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