Brent also falls by about US$ 4 to US$ 46 per barrel.
Oil Crashes on Reports that OPEC and Russia failed to Rollover existing supply cuts. Good development for Pakistan macros, as massive decline in Oil prices may lead to decline in energy imports, thereby helping reduce trade deficit; pass-on should lead to decline in inflation, as well as reduced energy costs to businesses/industrial sector, besides potential to improve indirect taxes for the govt and decrese in subsidies from the govt.
Oil Price Slumps US Crude Oil falls by US$ 3.6 to US$ 42 per barrel.
