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Attendees at a Kuwait Petroleum Company reception last week could have easily forgotten the price of Brent crude has halved in the last eight months.International Petroleum Week, when the oil world gathers each year in London, is renowned for such flashy parties. But while this year's may have felt like business as usual, the chatter among executives and traders did not take on the same air of nonchalance.Talk focused on how far oil prices would fall, when drops to the US drilling rig count would affect supplies and what demand growth from Asian economies would look like over the next two years.There are varying expectations for oil prices this year – ranging from as low as $30 a barrel for Brent crude to $85 a barrel for people the FT has spoken to.Tony Hayward, Genel Energy chief, said he expected lower prices for the next year or two.
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