Dear Editor,
Newsweek, the respectable international magazine reported yesterday that crude oil prices tumbled Monday, with global grades settling down more than $1 a barrel after an early rally fizzled and prices fell to their lowest levels since May 2009.
The report stated that global benchmark Brent crude settled down $1.57 at $57.88 and US crude settled down $1.12 at $53.61 a barrel,
It further stated that speculation is rife that oil prices this year are on track for the biggest decline since 2008 and the second-biggest annual fall since futures started trading in the 1980s.
Editor, with no ifs and buts, would Guyanese benefit from this drop in the oil price?
We think that we should.
Yours faithfully
Rooplall Dudhnath
