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Crude Oil price hits 12 week low

Crude Oil price has gone down and is expected to be going down for some time. The recession fear is mounting which helped in oil prices to be reduced. It is also predicted that Crude Oil price will be very low at the end of this year.

Middleast countries produce most of the Crude Oil in the world. They earn most of their money by selling Crude Oil. Qatar became the world’s rishest country after discovering it’s oil reserves. Scientists has predicted that, by 2052 oil reserves in most countries will dry up. It will dry up to the limit that mining the oil will be profitless. That’s why most of the gulf countries are already taking the alternative paths to keep the economy of their country alive.

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