Thursday, March 27, 2008

Slowdown in US growth leads to oil price drop

Global crude oil prices have dipped to hover around US$100, largely on the back of slower growth in the United States, the world's largest economy- likely to take a toll on oil demand. As per last weeks' report by the OECD, it was suggested that the American economy was staggering on the brink of recession. This could eventually stall wider global growth significantly.

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