NEW YORK, Nov 12: Oil fell 4 per cent to below $57 a barrel on Wednesday as the US government hacked its global demand growth forecast again due to the slumping global economy.

Opec officials said the cartel could possibly decide by the end of the month to cut production again to raise prices.

US crude fell $2.51 to $56.82 a barrel at 1815 GMT, after touching $56.35, the lowest since March 20, 2007. London Brent crude traded down $2.50 to $53.21 a barrel.—Reuters