Cheap Oil Keeps World Economy Off Balance

With crude under $40, investment dries up, nations lose revenue

By Jason Farago, Newser Staff

Posted Feb 20, 2009 5:18 AM CST

(Newser) – Oil surged 13% yesterday in New York trading—and still closed at less than $40 a barrel, reports the Washington Post. Cheap oil has been a boon for consumers in the recession, but the collapse in crude prices has contributed to further havoc in international... Read full story »

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Cheap Oil Keeps World Economy Off Balance

With crude under $40, investment dries up, nations lose revenue

Russia • oil • Venezuela • Canada • recession • Kuwait • oil price

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