Oil demand dropped to $73, impact on crude future

Crude oil dropped towards $72.85 per barrel due to uneven trade while Dollar is strengthened against the euro. Since late in the first week of January, petroleum spot and futures prices have fallen by about $9 per barrel. In this regard, manor shift in winter weather has impact on heating fuels in the United States and globally, is one factor that effect crude oil market. There have been other factors including slow economic recovery that will impact on petroleum demand. As from the OPEC narration, there had been expected to rise in production by the G-11 members dependent on oil yield limit.