Brent oil slides to 11-year low

Suppliers from the Middle East to the US are expected to exacerbate a record glut

21st December, 2015
Brent crude slumped to the lowest price since mid-2004

Brent crude slumped to the lowest price since mid-2004 amid speculation suppliers from the Middle East to the US will exacerbate a record glut as they fight for market share.

Futures fell as much as 2.2 per cent in London after a 2.8 per cent drop last week. Producers are focusing on reducing costs amid the price decline, Qatar Energy Minister Mohammed Al Sada said on Sunday at a gathering of Arab oil-exporting nations in...

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