Navigating Todays Business Panorama
Saudi Arabia, the de facto chief of OPEC, has been making an attempt to keep oil above $100 per barrel by pushing for member states to cut production. The kingdom has reportedly signaled that crude could drop as low as $50 a barrel if the Organization of Petroleum Exporting Countries does not commit to reducing oil output. This would create a tough scenario for Russia, which is reliant on higher crude prices. “It will take time for the rate of interest to be decreased, no much less than two to 3 months earlier than the mortgage …