| U.S. oil prices fell to fresh multi-month lows Tuesday as economic data and forecasts suggested slower demand growth next year than previously expected. Weak oil demand, particularly in Europe and Asia, has weighed on oil prices in recent months, as global supplies have remained ample and producers have had to cut prices to lure buyers.
On Tuesday, the International Monetary Fund lowered its global economic growth outlook by 0.2 percentage point to 3.8%. Earlier in the day, German factory data showed a 4% slump in August, well below expectations for a 1.5% decline. Prices fell further midday after the U.S. Energy Information Administration cuts its forecast for global oil-demand growth and oil prices in 2015...............................................Full Article: Source
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