Crude down to 62 dollars
Crude oil prices have touched a 15 month low figure of 62 dollars today in spite of warning and indications from Oil Producing and Exporting Countries i.e, OPEC group that there will be a steep cut in production in order to prop up prices. The fall was more due to unwinding of speculative positions by most of the investment bankers and brokers fearing further steep drop in crude oil prices in coming weeks.