LONDON – A Britain News outlet analysis the effect of decrease in oil prices and its expected setbacks to global community, PakistanTribe received international media reports.
Analyzing about the recent trend in fall of oil price in global market a Britain news source discussed the expected move of market stakeholders for concluding maximum results from decline or for making efforts for survival of economy.
The editorial states about Britain that “Apart from the special circumstances of Scotland, the lower the oil price, within very wide margins, the better”. “we do best by having cheaper energy all round.” it adds. As falling in oil price is beneficial for Britain.
Whereas Russia is suffering because it is an oil exporting country. Analyzing about Russia it states that “The economy most visibly disrupted by the decline in oil and gas prices is, of course, Russia. As the Russian people face rising inflation, a collapsing currency, a slump and a vicious squeeze on living standards, this may be the best line Mr Putin has, but it certainly does not deserve to convince anyone that his economic policies have been anything other than a dismal failure.
Commenting on the trend, the editorial also maintained “Soon, Russia may not be able to afford to wage any more of her little wars.”
It further mentioned about US that ” In the supposed battle between Saudi Arabia’s oil wells and American discoveries of shale gas, it is the Americans who are outstripping the Arab world in productive activity. That said, energy security – long an American ambition – seems to be becoming more of a reality.”
Globally it expects that “An unexpected turns of events for a world grown accustomed to oil at well over $100 a barrel. All in all, the $60 barrel of oil makes for a fine Christmas present for George Osborne.
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