Jul 29, 2011
The price of oil dropped $96 a barrel on Friday after the U.S. government said the economy is at an insufficient 1.3% annual rate in the Q2.
The data raised questions about demand for oil over the months. The Commerce Department also revised the January to March figures to display growth in the first six months was the weakest since the recession ended two years ago.
Oil prices have varied over the month, from $94.90 a barrel on July 1 to 98.87 on July 22 before making another fall.
Oil & Gas Post
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