Oil continues to decline amid fears of a global supply glut

Tuesday, December 22, 2015

Low oil prices during trading Monday to remain near their lowest levels amid concerns over the worsening of the global supply glut.
It rose on the Brent oil prices by more than zero point three percent for up to thirty-six and a half dollars a barrel, with the opening of European markets. As well as futures US crude rose by more than zero point six percent to rise above thirty six dollars per barrel after it had fallen to below $ thirtieth in the past week. On this basis, shrinking differences between US crude and Brent to the lowest level of the year two thousand and ten since, as this evidence suggests that US oil may grow more after the Congress's decision to lift the ban on US exports after forty years of non-oil exports, which may Price makes the situation is getting worse over the next year with rising Saudi production and the return of Russian and Iran