Oil Falls to 12-Year Low as IEA Says Supply Could `Drown' Market

Updated on
  • Crude prices may fall further as demand growth slows, IEA says
  • Agency cuts 2016 global demand outlook, raises non-OPEC supply

Middle East Oil Turmoil as Iran Re-Enters Global Market

Crude dropped to the lowest in more than 12-years in New York after the International Energy Agency said the global market could “drown in oversupply.”

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