Iran hit hardest as oil price war, cornavirus cripples nation
Monday, March 9, 2020 | Tag Cloud Tags: coronavirus, Iran, Iraq, Islam, Middle East, News, oil, virus, War, Worthy News | Learn about out FREE SYNDICATION
(Worthy News) – The one-two punch of coronavirus and an escalating oil price war that is roiling world markets is hurting one country more than any other: Iran.
Already dealing with a deadly outbreak, the Islamic Republic, heavily dependent on oil revenues, is in no position to deal with the lowest per-barrel prices seen in decades.
“$20 oil in 2020 is coming,” tweeted Ali Khedery, a former U.S. official in Iran and onetime Middle East expert with Exxon. “Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc. – may prove existential 1-2 punch when paired with COVID19.” [ Source: Fox News (Read More…) ]
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