The price of oil fell below 45 dollars a barrel.

Price barrels of oil on world markets fell below 45 dollars. It is reported Agency France Presse. The sharp drop in oil prices in recent days linked to the refusal of member countries of OPEC to reduce output.
On the ICE exchange in London futures price of oil brand Brent reached 44.87 dollars per barrel. This is the minimum rate since February 2005.
December 2, following the trading on the New York commodity exchanges cost of barrels of oil brand WTI fell to 2.32 dollars and accounted for 46.96 dollars, set at May 2005. In London, Brent barrel mark lost in the price of 2.53 dollars, down to 45.44 dollars.
At a meeting of member countries of OPEC on Nov. 29 in Cairo, it was decided to postpone the reduction of quotas for oil production until December. In 2008, OPEC has twice reduced the quota for oil production - in September and October. The overall decline of about two million barrels a day.