Oil fell below $80 a barrel for the first time since 2010 on Thursday, as more evidence of a slowdown in China's resource-hungry economy chimed with OPEC warning of a substantial drop in demand next year, Upstream Online reports.
The Organization of the Petroleum Exporting Countries (OPEC) said in its latest report on Wednesday that demand for oil was expected to drop by around a million barrels a day next year because of the US shale boom.
