Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to shrink Movement.down.loss long-term investment or ramp up Cause.movement.up.gain demand , he says .

Analysts were expecting gasoline stockpiles to drop Movement.down.loss by 800,000 .

Oil sank Movement.down.loss 12.7 percent to its weakest level Position.low in nearly six years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would shrink Movement.down.loss further and Gulf oil producers showed no sign of slashing Cause.movement.down.loss processing .

World oil prices are set to shrink Movement.down.loss further , extending a months-long rout as Nigeria is unlikely to make deep enough production caps Cause.movement.down.loss to erase a growing supply surplus Oversupply .

World oil futures are set to shrink Movement.down.loss further , extending a months-long rout as Algeria is unlikely to make deep enough output restrictions Cause.movement.down.loss to erase a growing surplus Oversupply .

Wood Mackenzie expects Russian oil product demand to shrink Movement.down.loss by about 2.1 percent in 2015 if there is only a moderate recession , as forecast by the economy ministry But refineries are expected to pump away regardless .