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Commodities Briefing - Categorized | Oil, Price Watch more

Oil at $55 on demand gloom

Posted on 14 November 2008

From FT: Crude oil prices on Thursday briefly fell below the $55 a barrel level for the first time in 22 months, after the International Energy Agency warned of significantly weaker demand in 2008 and 2009 due to the global economic downturn.

The combination of lower oil prices and weaker demand prompted fresh calls among member of the Organisation of the Petroleum Exporting Countries for a production cut…… Full Article: Source


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