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Well, since most non-OPEC oil producers are still cost effective at lower prices, there are concerns and other are already convinced that falling oil prices will harm their corporate earnings. Nonetheless, cheap oil is hugely positive for the majority of the economy and benefits consumers.
Yes, NON-OPEC Countries or non-oil based economies will such as India, Pakistan, Bangladesh, Egypt will benefit from falling prices, As% of the cost of their respective produce (agriculture, husbandry etc) is linked to fuel cost.
There are two aspects of benefits, first is the Govt. benefit of maintaining higher prices to earn more revenue. Second, once Govt. starts reducing the fuel cost with passage of time it will gradually decrease the cost of production which will result in cheaper products.
Here the Govt. interference in price regulation/revision will play major role in decreasing overall prices prevailing in the market due to high fuel cost in previous years.
