Mon Oct 13, 2008
By Richard Mably - Analysis
LONDON (Reuters) - World oil prices are likely to fall further if the rush to cash across global financial markets continues but crude is unlikely to dip for long below the oil industry's $50-a-barrel average operating cost, analysts said.
Benchmark U.S. crude has fallen 45 percent from July's record $147.27 a barrel to trade at $81 a barrel Monday after settling at $77.70 on Friday, its lowest close in 13 months. http://www.reuters.com/article/GCA-Oil/idUSTRE49C3WH20081013?sp=true