Oil Falls to Lowest Since 2008 as OPEC Seen Fueling Supply Glut

Updated on
  • IEA sees global oil oversupply lasting until late 2016
  • Iraq led OPEC production to three-year high in November

A Topsy-Turvy Year for Crude Oil Spreads

Oil declined to the lowest level since 2008 in London amid estimates that OPEC’s decision to scrap production limits will keep the market oversupplied.

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