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Commodity Exchange

18 november, 12:37
Commodities

Oil has decreased in the price at the auctions in Europe on Monday more than on $1 to $56 for barrel, close having approached to minimum in the last two days to level, fault to that absence of concrete decisions on struggle against global recession from heads of "the big twenty". Economic forecasts disturb, and the decision on short-term prospect is not thought up. People expect that the situation will become all worse, if the statistical data continues to look so weak, and, for the lack of anything else, it influences reduction of prices. Today the OPEC has lowered forecasts of demand volume for oil for 0.26 million barrels in day following the results of this year. The forecast of demand for oil next year is lowered on 0.27 million barrels. The OPEC will probably wait till December, before will take measures to reach a preferred price level on oil between $70 and $90 for barrel as the effect from last reduction of extraction while is not clear, president of cartel on Sunday has told

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