Oil tumbles to one-year low on oversupply concerns
It has been a brutally bearish trading week for Oil prices with Brent Crude and WTI Oil both crashing to a fresh yearly low on Friday morning thanks to oversupply concerns and global growth fears.
The truth of the matter remains that rising global Crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the Oil markets. With an appreciating Dollar rubbing salt into the wound, the outlook for Oil prices points to further downside. Although OPEC is expected to cut Oil production at its meeting in early December, Oil bears are clearly unfazed and this continues to