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Both Hockney works artist brought higher than expected prices.
If the fundamentals erode faster than expected, prices could fall sharply as speculators rush out.
He thinks that buyers have been holding back because they expected prices to fall further, faster.
When California deregulated the electricity market in 1996, it expected prices to fall.
Economists polled by Reuters had expected prices to rise 0.9 percent last month.
Dr. Kochi said he expected prices to fall further with the competition from ASAQ.
Economists polled by Reuters had expected prices at farms, factories and refineries to be flat last month.
The bond rating agencies are lowering ratings of big companies because they cannot sell assets for the expected prices.
Oil companies are used to boom-and-bust cycles, but no one expected prices this low, for this long.
Several oil analysts, however, said the industry never expected prices to stay above $25 a barrel for long.
Speaking in Mexico City, Mr. Tellez said he expected prices to stabilize eventually around $30 a barrel.
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