Oil slips below $61 as weak demand outlook weighs
Oil slipped below $61 a barrel on Thursday as concern over the demand outlook offset a surprise drop in US crude inventories and the prospect of further action by OPEC and its allies to support the market.
In the latest sign of economic weakness that has prompted lower oil demand projections, employment in Germany’s private sector fell fell for the first time in six years in October, a survey showed on Thursday.
Brent crude fell 39 cents to $60.78 a barrel by 0844 GMT, having risen 2.5 per cent on Wednesday and touched its highest since Sept. 30.
