"$70 a Barrel: A New Floor for the Oil Industry?"

"After years of volatility, oil prices have found a level that seems to satisfy producing nations, oil companies and major consumers. But in the wake of the economic crisis and the collapse in demand, a new reality has also set across the petroleum industry. Today’s price of around $70 a barrel is increasingly viewed as a new floor for the industry."

Source: NYTimes, 10/20/2009


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