Oil Prices Plunge

Oil Prices Plunge Below $60 on Weak Forecast by IEA

The oil glut continues, says the latest International Energy Agency’s (IEA) report which slashes demand growth forecasts for 2015. A weak economic outlook for China, Europe, and Russia will see demand rise one percent, not enough to offset oversupply. Oil demand growth for 2015 was slashed by 230,000 barrels per day, and is set to … Continue reading →