A clash of two oil titans - Saudi Arabia and Russia - is sending shock waves through energy markets, with wide-ranging implications for consumers and oil companies, including those in the No. Oil prices fell Monday by the most in one day since the 1991 Gulf War. Q: WHY ARE OIL PRICES FALLING? A: The current low prices could constrain activity in the American shale oil industry. A downturn in oil prices in 2014-2016 hurt companies in places like the Permian Basin in west Texas and eastern New Mexico.

Source: The Standard March 10, 2020 02:39 UTC