Oil falls as demand 'set to drop'
The price of oil drops below $57 a barrel after the International Energy Agency says world oil demand will fall this year.
Source: news.bbc.co.uk
Comments
Simon James, Gore Browne Investment Management, 2009-05-14 14:27:41
This shows how flighty the markets are. The combination of oil supply discipline amongst the OPEC producers and weakening production among non-OPEC producers is compensating for softer demand. The recent rise in the oil price reflects this perception.