Oil prices have fallen dramatically in response to the shaky world economy.
US crude finished trading at under $79 a barrel on Tuesday as concerns the global economy could slip into recession and drag down demand outweighed optimism over the bank bailout plans. Slumping demand in the United States and other big consuming nations and the mounting financial crisis have dragged crude off record peaks of over $147 a barrel hit in July. Producer group OPEC has called an emergency meeting for Nov. 18 to discuss the crisis and its effects on oil markets, with some members calling for production levels to be reduced.
(Deutsche Welle)
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