Oil below $60 "overshooting" to the downside - IEA
LONDON (Reuters) - The price of oil, which sank below $58 a barrel on Wednesday, is "overshooting" to the downside, said the head of the International Energy Agency.
"The market sometimes responds by overshooting," Nobuo Tanaka told Reuters following the release of the agency's 2008 World Energy Outlook.
"Now the market is over-reacting a little too much, I think."
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