US Crude Oil (West Texas Intermediate Cushing OK) spot price has fallen 34% just since October 3, 2018. And using US oil company Phillips 66 out of Bartlesville Oklahoma as an example, Phillips 66 plunged 25% since October 3rd as well.
At the south side of El Caribe, Venezuela has seen a plunge in their crude oil basket of 23% since early October.
Venezuela’s El Presidente is not thrilled about the global decline in crude oil prices.
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