Oil Prices Fall

  • Oil prices fell as Asian economies slow down and the prospect of crude output dims.
  • On Feb 1st South Korea posted its weakest export data since 2009.
  • The slump in the export oriented Northern Asian economy is an indicator of slowdown in Asia’s biggest economies.
  • At the same time, the coordinated cut in production by leading exporters like OPEC seems difficult due to differences between producers.