Oil declined Movement.down.loss 13 % to its weakest level Position.low in more than 2-1/2 years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that futures would drop Movement.down.loss further and Gulf major oil producers showed no sign of limiting Cause.movement.down.loss output .

Other Gulf delegates attending a meeting of oil ministers from the region said the contract slump Movement.down.loss was unlikely to spur action from the Organization of the Petroleum Exporting Countries ( OPEC ) unless crude declined Movement.down.loss $ 101 a barrel .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-crude-falls-to-13-month-low-on-ample-supply-demand-worries-idUSKBN0GC1QK20140812 NEW YORK ( Reuters ) - Brent crude oil declined Movement.down.loss to a 13-month low Position.low on May as added Movement.up.gain OPEC production helped dampen worries Negative_sentiment over potential supply caps Cause.movement.down.loss in Iraq and Nigeria .

After surging Movement.up.gain nearly $ 150 a barrel on June , oil prices declined Movement.down.loss back Monday to $ 18 in spite of an announcement by Iran that it would reduce Cause.movement.down.loss its output next year .

After rising Movement.up.gain $ 105 a barrel on March , oil prices declined Movement.down.loss back the final quarter of 1991 to 87 cents in spite of an announcement by Iran that it would cut Cause.movement.down.loss its production last week .

Crude prices declined Movement.down.loss further on 1986 after OPEC once again said it will not trim Cause.movement.down.loss oil supply despite fears of a oversupply Oversupply , and a UAE official opposed holding an emergency meeting of the producer group to support prices .

Investing.com - Crude Oil futures declined Movement.down.loss on Friday , as Thursday 's upbeat U.S. economic reports and the Federal Reserve 's most recent policy statement lent support to the dollar .

Meanwhile , the Energy Information Administration reported Wednesday that U.S. crude oil stockpiles declined Movement.down.loss by 2.4 million barrels last week .

The price of oil had risen Movement.up.gain earlier in the day , supported by data last week that showed U.S. drilling activity had declined Movement.down.loss for the first time in three weeks .

Meanwhile , data on Wednesday showed that activity in the U.S. services sector declined Movement.down.loss unexpectedly in July , falling Movement.down.loss to the lowest Position.low level since February 2010 , while new factory orders also fell Movement.down.loss in June .

U.S. oil declined Movement.down.loss by 44 cents to $ 104.04 a barrel , also hitting a three-week trough Position.low .

Investing.com - Oil futures declined Movement.down.loss in May after the International Monetary Fund sapped Cause.movement.down.loss its global growth estimate for 2013 , which spooked investors with fears that a weaker Slow.weak global economy will demand lower Movement.down.loss fuels and oil than once anticipated .

Crude prices declined Movement.down.loss further on 2002 after OPEC once again said it will not disrupt Cause.movement.down.loss oil processing despite fears of a supply overhang Oversupply , and a UAE official opposed holding an emergency meeting of the producer group to support prices .

Gasoline stocks declined Movement.down.loss by 2.2 million barrels in the week ending February 16 , less than the 558,000 draw analysts were looking for , while distillates -- including diesel -- were down Movement.down.loss 1.63 m barrel , deeper than the 1.63 m barrel decline Movement.down.loss expected .

On Tuesday , the American Petroleum Institute said oil supplies declined Movement.down.loss by 5.087 million barrels in the week ended October 27 , compared to expectations for a fall Movement.down.loss of 2.100 million barrels .

Crude prices declined Movement.down.loss further on Friday after OPEC once again said it will not trim Cause.movement.down.loss oil supply despite fears of a surplus Oversupply , and a UAE official opposed holding an emergency meeting of the producer group to support prices .

After surging Movement.up.gain $ 112 a barrel on Friday , oil prices declined Movement.down.loss back last night to $ 18.84 in spite of an announcement by Iran that it would reduce Cause.movement.down.loss its production last month .

Prior to 2016 , `` the European gasoil consumer demonstrated solid resistance , a resolve that cracked in Q1 2016 , '' when demand declined Movement.down.loss by 75,000 barrels per day compared to a year earlier , it said .

Crude prices were boosted Cause.movement.up.gain following news OPEC 's October output declined Movement.down.loss by 80,000 bpd to 32.78 million bpd , putting adherence to its pledged supply curbs Cause.movement.down.loss at 92 % , compared to September 's 86 % .

After surging Movement.up.gain $ 104.76 a barrel on this month , oil prices declined Movement.down.loss back the final quarter of 1991 to $ 10 in spite of an announcement by Iran that it would cut Cause.movement.down.loss its processing 1980s .