Summary

The price of oil has gone down below ＄50 a barrel for the first time since May 2009.  　Going  down of the price is happened because of slowing global growth and increased supply of oil. CMC Markets analyst Michael Hewson said that if OPEC won’t do nothing about over production , the price of oil will declines towards ＄40 in the coming weeks. And oil industry insider said that it will takes one or two year to have prices return to around ＄80-＄90 per barrel.
Recently Saudi Arabia’s main oil company has stopped a major clean fuels plant and several new machines to stop going down of price.　　And now Iraq , Russia and Venezuela are suffering badly because they are  major oil producing countries.

Opinion

I have a driver’s license. But I don’t drive a car. So I don’t care about the price of oil usually , and I didn’t know this news. When I read this article’s title , I thought this is good because a bus fare will go down. But when I read whole article , I found that This is not good for everyone because there are some people and countries that is suffering badly , for example Iraq , Russia , Venezuela and so on. I learn that even if there are good things for us , these things may load us in long time view.