CRUDE OIL SLIDE $65
By mid-November, Brent crude oil was trading at just over $65/barrel, following a decline from a four-year high in October when it traded at $86, reported ft.com. The drop in the oil price came as supply from the US continued to rise, but Opec producers forecast a decline in growth of oil demand to 1.29m barrels per day next year, according to the report. Earlier forecasts estimated daily demand of 1.45m barrels. “When you put all these ingredients together, you have a recipe that’s not really conducive to an $85 market environment,” ft.com quoted Barkley’s oil analyst, Michael Cohen, as saying.