New York sources reported that oil prices went down on Friday amid rising supplies from countries including Russia and Saudi Arabia. Meanwhile Russia and key OPEC(Organization of the Petroleum Exporting Countries) members such as Saudi Arabia and Kuwait have all increased production recently, trying to help compensate for a potential decline in Iranian crude supplies once planned US sanctions take effect later this year.
As per report official data from Russia on Thursday showed that the country's oil output rose by 150,000 barrels per day (bpd) in July from June to 11.21 million bpd. According to Reuters the output by Saudi Arabia has also risen recently to around 11 million bpd.
Furthermore the West Texas Intermediate (WTI) for September delivery lost
$0.47 to settle at $68.49 a barrel on the New York Mercantile Exchange, while
Brent crude for October delivery erased $0.24 to close at $73.21 a barrel on
the London ICE Futures Exchange.
If BJP wants to reinvigorate economy, abolish Personal Income Tax According to sources governments in deep financial trouble turning to businesses for advice on reinvigorating the economy and kick-starting a cycle of growth and prosperity is not new. Meanwhile centuries ago, when an entire line of French emperors fought ruinous wars and bankrupted the economy, they paused to conduct an event not too different from our modern day investor summit,
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