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Oil continues move lower. Down 6.2% now.

Discussion in 'Market News' started by ForexLive, Feb 9, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Trades below $28 Crude oil prices continue to fall. There were reports earlier from International Energy Agency who said it did not expect global demand for oil to grow quickly enough to erase the supply glut anytime soon. In addition, the energy information administration (EIA) . So it has lowered its oil demand growth forecast for 2016 by 110,000 barrels per day and 2017 by 260,000. Later today the API will release its stockpile survey results. Tomorrow the EIA will release their estimates.

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