Crude oil prices have dropped to their lowest level in over a decade.
Oil prices have plummeted over the past month, and they may be headed even lower. This is due to a number of factors, including the weakening of the US dollar and the potential for further sanctions against Iran. The recent dip in oil prices has been driven by geopolitical concerns as well as declining demand from countries like China.
While some experts are predicting that oil prices will continue to fall, others believe that they will rise again in 2021. In order to understand why oil prices are dropping, it’s important to look at the global market for crude oil.
