Who Wins and Who Loses With Falling Oil Prices

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that oil prices are rapidly declining, with Brent Crude now at $60 a barrel. Surging supply from U.S. shale and OPEC+, weakening demand from China, and economic uncertainty are driving the drop. While consumers and oil-importing nations like India benefit from lower costs, producers such as Russia and U.S. shale companies are suffering. The situation could either support economic growth or worsen if a global recession takes hold.