(Image source from: Crude oil price goes low})

With the effect of weak international economy. Crude oil rates plunged. A barrel now costs less than $60, which is the lowest since may 2009.

On Monday, the Organization of the Petroleum Exporting Countries (OPEC) said that they won't convene any emergency meeting unless something drastic happens in the oil market, the United Arab Emirates oil minister Suhail Al Mazrouei said. And expressed confidance in oil prices increase in 2015.

In this 3 months alone, Brent crude has fallen 40%, Only 3 times the level of adjustment taken place in the last 24 years, according to Morgan Stanley. The sudden drop in oil prices continued shake financial markets and currencies around the globe.

European market is affected most with this fall in crude prices. International markets are under pressure to enhance the market health.

All stock markets are showing poor outcome with this effect.

AW: Kannamsai