CRUDE OIL WORLD PRODUCTION COST IS STILL BELOW $40 THIS 2015 AS THE CHINESE BOOM IN CONSUMPTION HAS TAKEN THE SAIL FROM THE BOOMING ENERGY INDUSTRY AND US OIL PRODUCTION HAS SPURRED THE DOWNWARD PRICE TO THE BENEFIT OF CONSUMERS WORLWIDE FROM COMMODITIES LIKE COSMETICS, CLOTHING, GAS, AUTO, AND FOOD PRICE

 

Due to China’s economic shock, international oil prices have dipped to the lowest point in 6 1/2 years.
In Monday’s trading on the New York Mercantile Exchange, crude oil for October delivery fell as low as $38.24 per barrel, down $2.21 (5.5 percent) from the previous day.
Oil prices recovered some lost ground Tuesday after a sharp fall sparked by worries about the faltering economy in China, the world’s largest energy consumer.

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