Related Articles
Forward article link
Share PDF with colleagues

Crude tumbles 20% since June to reach four year lows

Prices have taken the hit as plentiful supply and weak growth take toll

Crude oil prices tumbled to four-year lows in mid-October as ample global supply, slowing demand and a strong US dollar all weighed on values. Brent and WTI were trading around $85.56 a barrel ($/b) and $82.65/b respectively on 20 October, having fallen by more than 20% since June. On 16 October Brent fell to a four -year low of $82.93/b as concerns over slowing global demand growth amid ample supply weighed on futures markets. WTI also fell to $79.78/b on 16 October, a level not seen since June 2012. The International Energy Agency (IEA) cut its forecast for global oil demand for this year by 200,000 barrels a day (b/d), to 92.4m b/d, because of expectations of weaker economic growth. Annua

Also in this section
The end is nigh for oil
12 January 2018
Fossil fuel merchants including oil companies are living on borrowed time, argues a new book
US energy: what to watch in 2018
3 January 2018
Oil production, trade, renewables and technology top our list of major questions facing America's energy industry heading into the new year
The IEA is now much more bearish on 2018 than Opec
15 December 2017
The latest forecasts from the IEA and Opec offer very different pictures of the oil market next year