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Oil Price Falls Further

Falling a further 10.5% last week, the low price of oil is of increasing interest to the media. Speaking on Radio 4's You and Yours, OFTEC director general Jeremy Hawksley said: "The case for sticking with or even switching to oil is strong.". Goldman Sachs thinks the oil price could even sink to $20 a barrel...

At last week's OPEC conference in Vienna it was decided to keep oil production output at record high levels with member countries agreeing to "closely monitor developments in the coming months."