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| OPEC Logo |
Crude oil prices on the
global market crashed on Monday to epic lows, as they beat 2008 global economic
crisis prices and sank beyond 11-year low with the US vote to lift ban on oil
exports. New
data released on Monday, revealed that the price of crude oil in the OPEC
basket of twelve crude, stood at 31.63 dollars – an 11-year-low.
The
last time the OPEC basket stood at a daily low of less than US$32 was in April
2004, when it traded at US$31.32.
