Oil Slump to 11-Year Low Just a Taste of Pain Felt by Producers - Bloomberg Business:
"If oil’s slump to an 11-year low stung traders, it’s just a taste of the hardship felt by the industry.
Brent’s plunge to $35.98 a barrel on Tuesday, its weakest intraday level since 2004, was probably painful enough for any remaining oil bulls. But that move was just playing catch-up with the annual average price, already at the lowest in 11 years -- a measure more important than intraday fluctuations to those that pump crude from the ground."
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