According to the latest Reuters calculations, the ugly OPEC and its allies (OPEC+) fallout triggered Saudi Arabia’s price war that ensued the massive slump in oil prices, has led to over half a billion dollars wipe out in revenues of the OPEC members. Key takeaways “Oil price dive turns up the heat on OPEC finances. For the most part, oil is a top income source for members of the Organization of the Petroleum Exporting Countries and such a dramatic fall in prices will put a strain on their economies, some of which such as Iran and Venezuela, are already on the brink. At a four-year low reached earlier today, prices were down nearly $20 a barrel from a high before the meeting of OPEC and its allies on March 6. This means that in total, and based on their average February production, OPEC members lost more than $500 million in revenue.” Meanwhile, WTI stalled its recovery mode above the 34 handle to now trade near 33.30, shedding 19.50% so far. WTI: Bulls offered reprieve amid profit-taking after over 30% plunge FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Litecoin Price Analysis: Big confluence area acting as support FX Street 3 years According to the latest Reuters calculations, the ugly OPEC and its allies (OPEC+) fallout triggered Saudi Arabia’s price war that ensued the massive slump in oil prices, has led to over half a billion dollars wipe out in revenues of the OPEC members. Key takeaways “Oil price dive turns up the heat on OPEC finances. For the most part, oil is a top income source for members of the Organization of the Petroleum Exporting Countries and such a dramatic fall in prices will put a strain on their economies, some of which such as Iran and Venezuela, are already on… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
