Crude oil prices dropped on world markets.

The decline in the futures and “spot,” or non-contract, markets came amid reports by an International Energy Agency official that worldwide oil demand will remain stable in 1986 while non-OPEC production will increase. Oil for January delivery closed at $29.75 a barrel, down 99 cents, on the New York Mercantile Exchange. On the European spot market, North Sea Brent crude for December delivery traded at $30.15 a barrel, down 45 cents.