Consumers benefit from less-expensive energy and cheap oil. But the oil industry and oil-producing nations are struggling to cope with the fallout of falling prices. It’s also a challenge for the global economy.
The Japanese stock market has continued its downslide as investors find it hard to regain confidence in the global economy. Recession fears and uncertainty over US central bank policies contributed to the renewed fall.
Weakening global trade and falling oil prices have taken their toll on the world's largest shipping company, AP Moller-Maersk. Last year, the Danish conglomerate saw its profits tank and 2016 isn't looking any better.
Russia may attend an upcoming meeting with the world's leading oil producing nations over low oil prices. Moscow says Saudi Arabia has proposed global production be cut to reduce a supply glut and boost sinking prices.
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