"People are realizing that the decline in demand is probably not just a
"I think people are just becoming a little bit more bearish over their outlook for oil consumption over the next 12 to 15 months."
Oil prices slumped by about $4.50 on Thursday, despite the U.S. Senates approval of a government plan to buy up to 700-billion-dollars worth of tainted mortgage-related assets.
The House of Representatives in
The market was also dampened on Wednesday by a surprise jump in crude inventories in the
Oil had already dropped sharply from record high levels above $147 a barrel reached in July.