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three months later, it is approaching $60 a barrel and a 1.5 million barrel per day cut in output by the oil producers' cartel opec lastmas week did nothing torstad, stop the fall .
in july, although week did not know about the full extent of the slowdown, we certainly knew that the fall was not well in many of the world's biggest economies, so what has changed? until three months ago, some people in the market expected oil to hit $200 a barrel on the basis that oil was close to running out, says john hall from the energy consultants john hall associates .
the market? it was testing how high predices could go before demand was hit, says sandrine torstad, head of market analysis at the norwegian oil company statoilhydro .
if it carrices on falling at this rater the predice will be zero by christmas .
- Volatile oil 2008-10-27 15:12:20