The price of oil below $ 35 per barrel

The price of oil dropped below $ 35 a barrel on Monday due to the projected deterioration of the global economy, which may reduce demand for fuel. February futures price for WTI crude oil in the electronic system of the New York Mercantile Exchange (NYMEX) at 17:51 Moscow time was 34.45 dollars per barrel, 2.06 dollars lower than the closure of the previous trading day. Trades in the Hall of NYMEX Exchange on January 19 will not meet because of the weekend in the U.S.. The cost of Brent crude oil futures for March at London's ICE Futures exchange with the market opening on Monday fell to 1.84 U.S. dollar - up to 44.73 dollars per barrel, informs "Interfax" referring to agency Bloomberg. In addition, analysts Goldman Sachs Group said that world oil demand will probably fall by about 1.6 million barrels per day in 2009. The expected decrease in demand is more than the experts from the International Energy Agency published last week forecast that oil consumption will be reduced by about 500,000 barrels a day this year. "Demand is falling faster than the oil producers cut production," - said an oil analyst at Nordea Bank Tina Saltvedt