The price of a barrel of oil has dropped by 20% from its yearly high. A global economic slowdown has contributed to its fall.
The United States economy is suffering a double dip without the recession but with minimal growth considering predictions made several months ago.
And Europe has enough to worry about while saving Greece and the peripheral countries.
Ultimately, the correction in crude prices doesn't look like it's going to be any bigger as China and other emerging economies are demanding more oil and the dollar seems to be on the rise.
Translated and Edited by Brandon Dyches and Jose L. De Haro (joseluisdeharo@eleconomista.es)
