At 11:30 o’clock was North Sea oil (Brent blend) for delivery one month quoted at $ 59.18 on oil exchange in London. There is a drop of 3.1 percent since Monday. Price edged up again the next half hour.
It triggered oil prices fell Tuesday messages about lower industrial production in China and a fall in the currencies of major oil nations like Russia.Almost halved in six months
The oil price has almost halved since the peak of $ 115 a barrel in June.
The price of US light crude fell 3 percent to $ 54.26.
The price of Norwegian kroner was stable against the dollar (7.50 million) and euros (9.39 million).
OPEC triggered price slide
The fall was compounded when the oil exporting countries of OPEC in November decided not to cut oil production as a measure to curb oil price fall.
At the same time the US production of oil and shale gas. The US is now almost self-sufficient in oil.
This means that the world market in this situation flooded oil, while demand falls due to lower economic activity in traditional growth economies such as China and India.
predicts that the fall in prices continues
– The trend is still further down, says analyst Robin Bieber oil brokerage PVM Oil Associates in London told Reuters.
– The sharp fall in almost all commodity prices and the fall commodity currencies creates headwinds for oil demand in the commodity-producing growth economies in Latin America and the Middle East, writes the American big bank Goldman Sachs in a report.
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