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Oil price drops to $35

16 January 2009 08:05 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Crude prices plunged Thursday as weak economic data stirred worries on world energy demand.
U.S. government said Thursday that workers filing new claims for unemployment benefits rose last week and U.S. foreclosure activity jumped 81 percent in 2008.
The American Petroleum Institute said U.S. demand for crude oil and petroleum products slid 5.9 percent in December from a year earlier.
OPEC on Thursday forecasted a fall of 180,000 barrels per day in world oil demand this year, 30,000 bpd steeper than its previous forecast.
Light, sweet crude for February delivery fell 1.88 U.S. dollars to 35.40 dollars a barrel on the New York Mercantile Exchange while London Brent fell 55 cents to 44.53 dollars a barrel.