Oil is the cheapest of the 2 months

The price of oil fell below 60 dollars per barrel, the lowest value of almost 2 months now.
Reason for the sharp decline were exported by the International Energy Agency (IEA) forecasts a decline in demand for oil. Futures with delivery in August become cheaper by 52 cents to 59.89 dollars per barrel at the end of the session of the New York oil exchange. Only in this week’s black gold lost 10.3 percent of its value. Variety poevtinya Brent oil by 58 cents to 60.52 dollars per barrel at the exchange in London. Since the beginning of this week’s price is smaknala more than 7 percent. Just before the year of July 11 the price of black gold hit historic 147.27 dollars per barrel. International organization that represents the interests of industrialized countries, oil consumption expected to reach 83.8 million barrels per day this year, which is 2.5 million barrels per less in comparison with year 2008 demand is expected to grow by 1 , 7% to reach 85.2 billion barrels per day – an increase of 1.4 billion compared to 2009 at a time when most countries would have to emerge from the deepest economic recession for the past fifty years, stated in report. However, demand will remain lower compared to the levels reached in 2008, the agency warns.

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