Oil price
Under Pressure until 2009

THE price of world crude oil continues to drop. At the New York Exchange at the end of last week, light sweet crude for dispatch in January 2009 was being traded at a level of US$44.24 per barrel. And North Sea crude shifted to a position of US$42.9 per barrel. These are the lowest figures since February 2005.

Oil industry observer Kurtubi said he felt that prices would continue to be cut up until the end