So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the plunge Movement.down.loss in prices , seeing it as a temporary disruption Movement.down.loss and predicting prices will climb Movement.up.gain as more Movement.up.gain seasonal demand growth kicks in due to colder weather .

`` That means the plunge Movement.down.loss will be temporary and exports should bounce back Movement.up.gain in early 2017 . ''

Oil prices , which were recovering Grow.strong after the historic plunge Movement.up.gain a day earlier , inmediately gave up half of their gains Movement.up.gain .

The two biggest Chinese refiners have said they will squeeze Cause.movement.down.loss their processing by about 940,000 barrels per day ( bpd ) as a result of the demand growth plunge Movement.down.loss , or about 2.1 percent of their 2019 processing runs .

DUBAI ( Reuters ) - Still haunted by its failed attempt to prevent a steep plunge Movement.down.loss in oil prices by cutting Cause.movement.down.loss production by almost three quarters in the next month , the world 's top oil exporter Saudi Arabia is determined not to make the same mistake again .

So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the collapse Movement.down.loss in prices , seeing it as a temporary plunge Movement.down.loss and predicting prices will surge Movement.up.gain as more Movement.up.gain seasonal demand kicks in due to colder weather .

Russia 's domestic fuel consumption has been subdued Slow.weak this year due in part to a plunge Movement.down.loss in car sales , which fell Movement.down.loss by 12.7 percent in January-October .

A plunge Movement.down.loss in German analyst and investor market sentiment to the lowest level Position.low in more than 1-1/2 years because of the crisis Crisis in Ukraine pressured German shares and fueled worries Negative_sentiment about demand for petroleum .

Oil , the world 's most used fuel , has seen prices plunge Movement.down.loss by more than 40 % from their 2019 peak Position.high in January , with Brent crude oil prices threatening to fall Movement.down.loss below $ 60 per barrel for the first time since June .

`` Assuming we have a 20 % plunge Movement.down.loss ( in oil futures ) , it 's likely to be an additional 0.8 percent ( in economic growth ) for most advanced economies , because all of them are importers of oil , '' Lagarde said , mentioning the United States , Europe , Japan and China in particular .

The South American member of OPEC derives 96 percent of its export revenues from oil , so the plunge Movement.down.loss in prices has hit exacerbated Situation_deteriorate a national economic dip Movement.down.loss , a foreign currency shortfall Shortage and a scarcity of basic goods .

So far , OPEC officials have not expressed a pressing concern Negative_sentiment about the plunge Movement.down.loss in prices , seeing it as a temporary tailspin Movement.down.loss and predicting prices will climb Movement.up.gain as more Movement.up.gain seasonal demand kicks in due to colder weather .

( graphic : tmsnrt.rs / 2WG0dO7 ) The plunge Movement.down.loss in energy futures also comes amid escalating global trade wars trade.financial.tension , especially between the US and China .

While the plunge Movement.down.loss has rekindled speculation that the Organization of the Petroleum Exporting Countries -LRB- OPEC -RRB- may need to cut Cause.movement.down.loss output for the first time in six years when it meets next month , some analysts are looking much further ahead .