Global economy meltdown

Not since the Persian Gulf War of 1991 has the world seen oil prices crash to rock bottom prices as a price war feud between Russia and Saudi Arabia has taken place, with both oil-producing states claiming they will not cap production in order to stabilize the market. Oil prices collapsed around 34% for in the US, to prices as low as $27.34 per barrel, Crude falling 27% to $30.04 per barrel, and Brent Crude dropping 26% to $33.49 per barrel as the world prepares for Russia and Saudi to flood the oil market in order to re-take their global share of sales.

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