OIL and the WORLD ECONOMY: is it a chicken and egg game?

Pablo Gorondi, a writer for the Associated Press noted that the oil price is going down and will be facing additional pressure because of the slowing world economy.

Wasn't it the rising price of oil that was slowing the growth of the world economy? So which caused which? Was it some kind of a returning domino effect? hehe... At any rate Oil fell as low as $111.78. That's more than enough for a few more sighs of relief and smile to top it off. :)

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