Wednesday, 7 January 2015

CRUDE OIL HITS 6YRS LOW, TRADING BELOW $55 A BARREL

CRUDE OIL HITS 6YRS LOW, TRADING BELOW $55 A BARRELCrude oil prices dropped to fresh 5-1/2-year lows on Monday on worries about a surplus of global supplies and lackluster demand.

Russia’s oil output hit a post-Soviet high last year, averaging 10.58 million barrels per day (bpd), up 0.7 per cent thanks to small non-state producers, Energy Ministry data showed.

Read more @ Nigerian Tribune

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