In the fall in oil prices blamed the U.S. economy, and Russia.

Reducing oil consumption in the world and, consequently, the fall in prices for hydrocarbons, associated with the collapse of the economies in Russia and the USA. This conclusion was the International Energy Agency (IEA), transmits AFP.
According to the IEA, the oil exporters' cartel OPEC in the near future is not to reduce production, because it is only deepen the world crisis. In case of shortage of hydrocarbons in the market consumption will fall even further, leading to another drop in prices for hydrocarbons.
In recent days, the cost of oil on the world market then drops, then an equally sharp rise. The point is that investors try to guess as to whether OPEC to reduce production on its next meeting to be held March 15 in Vienna, and if so, how much. During the trading session, March 12, oil prices have risen by 11 per cent, as traders believed that OPEC did cut production.
Earlier it was reported that OPEC suggests Russia, major oil exporters outside the cartel to take part in the reduction of supply on the world market. According to the newspaper Vedomosti, Russian officials are unlikely to support the OPEC, as well as believe that the already much to stabilize prices at a level of 40 dollars per barrel.
Recall that an updated budget of Russia in 2009 make up a cost of 41 dollars per barrel of oil Urals. Now the price in the market kept just above that mark.
In the fourth quarter of 2008, the U.S. economy year on year declined by 6.2 percent. In Russia, in January 2009 was recorded declines in GDP at 8.8 per cent compared with December.
The global financial crisis is considered to be the main cause of the fall in oil prices on the world market. Back in July, crude oil traded at 147 dollars per barrel, generating billions of dollars of super exporters of hydrocarbons.