Oil prices drop below 70 dollars a barrel
Oil prices have for the first time in 14 months dropped below the 70 dollar per barrel mark, prompting the Organisation for Petroleum Exporting Countries to consider summoning an emergency meeting next week to establish some stability in prices.
Oil prices fell below $42 a barrel Monday as reports from manufacturers like Toyota and Caterpillar pointed to a worsening global economic climate and serious deterioration in energy demand.