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Oil Prices Fall Trigger Global Economies Slump
The OPEC decision to allow prices to drop aims to maintain market share but may lower Canadian gas prices only if price reductions reach consumers. Britain faces revenue losses and higher costs as North Sea oil trades slump, while Third World debt, inflation, and unemployment are pressured. Metals markets also suffer as disinflation erodes demand for gold and copper.
MENTIONED IN THIS ARTICLE
OPEC
Britain
North Sea
Sheik Yamani
Canada
U.S
Ben
U.K
Thatcher
Enrgy
Mexico
Nigeria
Toronto