Fears for US recession as oil price reaches 20-month low

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Fears for US recession as oil price reaches 20-month low

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11-04-2008, 08:44 PM

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Fears for US recession as oil price reaches 20-month low

The price of oil fell to $59.32 a barrel in early trading today, the lowest point since February 2007, amid growing concerns that a US recession will reduce demand. Oil prices reached a high of $147 a barrel in mid-July. Last week, Opec said it would cut its output by 1.5m barrels a day to [...]

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