Oil price to fall to below $53 by 2008: World Bank
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High global oil prices are likely to  ease to $56 a barrel in 2007 and fall further to just below $53  in 2008 as supplies increase and demand growth eases, the World  Bank said on Wednesday.
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NEW YORK - Oil prices made an about face Friday, falling below $48 a barrel, as tensions between U.S. forces and rebel fighters in Iraq eased, raising hopes that attacks against the country's oil infrastructure would subside...
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Oil prices fell to seven-week lows below $47 a barrel on Wednesday as traders braced for another increase in US oil and natural gas inventories ahead of winter.
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Oil fell below $61 a barrel on Wednesday   after a larger-than-expected increase in fuel inventories in   the United States, the world's largest oil consumer.
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Oil prices sank to a four-month low  below $41 for U.S. crude on Wednesday after leading OPEC  producer Saudi Arabia questioned the need for the cartel to  curb supplies.
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A fifth year of powerful economic growth in East Asia and the Pacific has driven the number of people living in poverty in the region to its lowest level ever, but the World Bank warned Tuesday that oil prices could dampen the boom next year.
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OPEC said on Friday there were risks an economic slowdown could worsen in 2008 and forecast that weaker growth and easing political tension could take the heat out of near-record oil prices.
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Oil prices fell again on Tuesday, taking  U.S. crude below $53 a barrel, on signs that high energy costs  are slowing the economic growth that has fueled this year's  sharp increase in world oil consumption.
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Oil fell below $77 a barrel on Monday as some funds booked profits after OPEC expressed concern over near record prices and pledged to pump more crude if needed.
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OPEC said on Friday there were risks an  economic slowdown could worsen in 2008 and forecast that weaker  growth and easing political tension could take the heat out of  near-record oil prices.
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Oil prices slid below $61 a barrel on   Wednesday on rising winter fuel stocks and waning concern about   Iran, but Saudi Arabia, the world's largest exporter, signaled   the market may have fallen enough.
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Oil prices extended their decline on Wednesday to below $88 a barrel as poor U.S. economic data reinforced fears that the world's largest economy is on the brink of a recession, knocking stock markets lower.
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London: World oil prices plummeted to the lowest levels for three months on Friday, shedding almost three dollars in New York, as fears of an evaporating supply crunch sent investors packing, analysts said.
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Global oil prices are likely to   continue volatile as supplies remain tight, the International   Monetary Fund's chief economist said on Thursday.
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Oil fell below $88 a barrel on Wednesday as stock markets declined further, shrugging off a temporary reprieve from Tuesday's steep cut in U.S. interest rates amid persistent fears of a global economic slowdown.
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LONDON : World oil prices tumbled more than two dollars in New York, sliding below 50 dollars for the first time in nearly a month amid reports of higher Iraqi oil exports and easing fears over a Nigerian strike, analysts said.
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Global oil prices are set to cool although not rapidly and not to levels seen in the 1990s, the Organisation for Economic Cooperation and Development (OECD) says.