04.08.2015 - Brent Crude Falls Below $50 a Barrel
Record U.S. production has led to international competition to produce more, cut prices, fight for customers. The world’s benchmark oil price fell to less than $50 a barrel Monday for the first time in six months as a sluggish global economy and rampant oil boom keep crude markets falling. Monday’s selloff widens losses from July that plunged oil into a bear market. Record production in the U.S. has led to an international competition to produce even more, cut prices and fight for customers around the world. The past week brought signs that production is still going strong, dashing hopes that low prices may force producers to slow down...............................................Full Article: Source
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