Event this week Assignment Example | Topics and Well Written Essays - 250 words - 2

Event this week - Assignment Example The context of the article is relevant to the past years when oil prices rose to unexpected levels, leading to low productivity and high cost of goods. This is also relevant to the dwindling Russian economy after the US influenced the price cuts to impose sanctions on the country. However, most industries are shutting down production for maintenance purposes, which reduces the oil demand across the American States. The implication for a broader international development is that the producing countries are crying foul because the reduction in prices will affect their market shares. This is because of the increasing American reserves that take advantage of the fall in prices to store additional oil. For instance, Saudi Arabia expresses fear that the reduced demand will affect future market shares and productions. The contents of the article relate to the course because it analyses the implication of reducing oil prices to economies that depend on its sales. This is evident through the effect of the prices on workers, global economies and industrial production. As a result, the concept of demand and price is clearly