Oil has dropped below $56 a barrel and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC’s refusal to cut output. Reuters stated that the price of global benchmark Brent crude has nearly halved in 2014 as demand growth […] More »
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Friday, 2 January 2015
Oil falls below $56, heads for biggest annual drop since 2008
Oil has dropped below $56 a barrel and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC’s refusal to cut output. Reuters stated that the price of global benchmark Brent crude has nearly halved in 2014 as demand growth […] More »
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