Core Viewpoint - Oil prices have recently experienced volatility, initially falling below $60 per barrel due to oversupply and weak demand, before recovering back above that level [1] Group 1: Price Movement - Oil prices dropped below $60 per barrel, indicating a significant decline in value [1] - Following the initial drop, prices rallied back above the $60 mark, suggesting a potential recovery in the market [1] Group 2: Market Conditions - The decline in oil prices is attributed to a combination of oversupply in the market and weak demand from consumers [1]