FT: Lower oil prices may provide a mild economic boost for large oil importers that is likely to be largely overshadowed by the impact of the coronavirus, while weaker commodity-dependent countries could find themselves facing huge budget gaps. Goldman Sachs, one of the most influential banks in commodity markets, on Sunday lowered its price forecast for Brent to $30 a barrel for the second and third quarters, and warned there could be dips to $20 a barrel in the coming weeks. On the other hand the countries that depend on the oil-rich countries for worker remittances will suffer in the long run.
Sri Lanka Oil import burden to be reduce significantly thanks to Global price war
EnergyMar 9, 2020