Crude oil futures continued to fall Tuesday, settling at their lowest since 2009 amid weak demand and a global supply glut.
The most influential players in OPEC seem contend to drive oil prices lower in a bid to eliminate non-OPEC competition.
Last week’s meeting in Vienna failed to produce any meaningful change to OPEC production quotas despite grumbling behind the scenes from Venezuela and others.
Jan. oil fell 14 cents, or 0.4%, to settle at $37.51/bbl on Nymex, a third straight daily loss.
The material has been provided by InstaForex Company – www.instaforex.com