Oil price was decreased become to US$ 86/ barrel
Demand of oil raw material has been decreasing by continously. Now, oil consumption average was reached 18,7 barrel per day has decrease till 8.6 percent from the last year.
Oil market has depend on the decreasing of stock price in the global stock market. Although international banking institution has coordinating to decrease theirs interest rate but it was not a guarantee to cover the global economic crisis.
The Central Bank are consist of The Federal Reserve Bank (The Fed), Europe Central Bank (ECB), Bank of England (BoE), Canada Central Bank, Swedia Central Bank and also Swiss Central Bank.
Before the Central Banks doing some intervention by decreasing the interest rate, the oil price was US$ 86/ barrel. Since 2007 year’s the oil price was reached the maximum price on Juli 2008 which reached US$ 147/ barrel.
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August 6th, 2009 at 2:02 pm
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