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Energy consumption falls around the world

In a further reflection of the ongoing economic crisis engulfing the worldwide economy it has been revealed that energy consumption has fallen dramatically over the last few months. While in normal markets you would expect the price of such commodities as oil to fall as well this does not appear to be the case.

For many months now there have been rumours of oil producers retaining significant oil supplies outside of the market pending a potential recovery in the price. This has had the desired effect in the short term, with many analysts expecting a further price increase in the medium term as well, as shortages have led to speculative buying which has pushed the price of "black gold" even higher. At a time when the world economy is still struggling the last thing we need is a raging oil price which will encourage inflation, increase the cost of living and generally delay the eventual recovery in the worldwide economy.

Amid growing signs that speculators have again seized control of the worldwide oil market there is concern that these actions are interfering with general day-to-day life and the "natural" price of oil. However, this is a free market and oil is readily available to those willing to buy, no matter what their reasons for doing so.

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