Oil futures have sunk Movement.down.loss this year as the OPEC opted to hold Movement.flat the same level of output despite a global glut in supply Oversupply caused by growing Grow.strong U.S. shale output and bad Slow.weak demand growth from India .

`` Demand growth was already fairly bad Slow.weak , '' said Wood Mackenzie analyst Richard Warner .

Oil prices have halved Movement.down.loss this year as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a the region supply glut Oversupply caused by roaring Grow.strong U.S. shale output and bad Slow.weak demand growth from U.S .

`` Fear of global economic growth distress Slow.weak ( is ) afflicting the entire energy complex with concerns Negative_sentiment that consumption will be bad Slow.weak this year , '' Peter Kiernan , lead energy analyst at the Economist Intelligence Unit ( EIU ) , said .