OIL FALLS BELOW $70
Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes. Benchmark Brent crude fell below $70 a barrel for the first time since early April, down more than 18% since reaching four-year highs at the beginning of October.
18 Apr Oil peaked in Oct on concerns that US sanctions on Iran would cause shortages
($/bbl) But other big producers have compensated by increasing their output
9 Nov The US, Russia and Saudi Arabia are pumping at, or near, record highs