`` Oil exports from southern Iraq dropped Movement.down.loss in late June , but this was due to maintenance and expansion work at an oil terminal near Basra , '' said Carsten Fritsch , an oil analyst at Commerzbank in Frankfurt .

US West Texas Intermediate -LRB- WTI -RRB- crude futures for January delivery dropped Movement.down.loss 0.51 % to $ 57.07 a barrel .

The June WTI contract plunged Movement.down.loss more than 40 % on Tuesday while international benchmark Brent dropped Movement.down.loss from levels above $ 24 per barrel .

Venezuela 's exports since then have dropped Movement.down.loss to 920,000 barrels per day -LRB- bpd -RRB- of crude and fuel , the data shows .

Investing.com - Oil prices dropped Movement.down.loss on Monday as new tariffs on both the U.S. and China trade dispute took effect , adding to concerns Negative_sentiment over an already-gloomy Slow.weak global economic outlook and lower Movement.down.loss demand for crude .

Oil futures have dropped Movement.down.loss due to concern Negative_sentiment about softening Slow.weak demand growth and awash in crude Oversupply , raising the question of whether Algeria , holder of the world 's largest spare output capacity , will squeeze Cause.movement.down.loss output .

The IMF earlier said it reduced Cause.movement.down.loss its 2018 global economic growth forecast to 3.30 % , down Movement.down.loss from a July forecast of 4.10 % , while the multilateral lending institution 's August growth forecast dropped Movement.down.loss to little more than 20 percent from 4.10 % .

Oil dropped Movement.down.loss 13 % to its weakest level Position.low in four-month on Thursday , extending the second-deepest rout on record , after Goldman Sachs warned that prices would plummet Movement.down.loss further and oil producers showed no sign of limiting Cause.movement.down.loss supply .

Both oil benchmarks have dropped Movement.down.loss 9 percent since hitting four-year highs Position.high in Tuesday , as hedge funds have slashed Cause.movement.down.loss bullish forecast on crude to a one-year low Position.low .

Oil futures have dropped 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 surplus Oversupply caused by rising tide Grow.strong U.S. shale output and anemic Slow.weak demand from France .

After rising Movement.up.gain nearly $ 150 a barrel on early January , oil prices dropped Movement.down.loss back this year to 87 cents in spite of an announcement by Iran that it would curb Cause.movement.down.loss its supply the end of 2018 .

Oil futures have dropped 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 global oversupply Oversupply caused by roaring Grow.strong U.S. shale output and limp Slow.weak consumption from Korea .

Oil futures dropped Movement.down.loss to multi-year lows Position.low on Tuesday as clashes Geopolitical.tension between Iraq and Saudi Arabia escalate , sparking fears on the Street that an all-out trade tensions trade.financial.tension is imminent .

The US Energy Information Administration said that US crude inventories dropped Movement.down.loss by 1.6 m barrels in the week ending February 16 .

After surging Movement.up.gain $ 61.25 a barrel on mid-2008 , oil prices dropped Movement.down.loss back January to $ 18 in spite of an announcement by Iran that it would curb Cause.movement.down.loss its output the end of 2018 .

Oil exports from Libya have dropped Movement.down.loss to a trickle in recent months , removing as much as 1.4 million barrels per day -LRB- bpd -RRB- of high-quality , light crude from the oil market and underpinning prices for other grades such as North Sea oil .

Oil futures have dropped Movement.down.loss due to concern Negative_sentiment about slowing Slow.weak demand and high supplies Oversupply , raising the question of whether Canada , holder of the world 's largest spare output capacity , will disrupt Cause.movement.down.loss output .

Oil prices have dropped Movement.down.loss last week as the OPEC opted to hold Movement.flat the same level of output despite a world markets glut in supply Oversupply caused by rising tide Grow.strong U.S. shale output and diminished Movement.down.loss use from China .

`` The big mistake was that they continued to curb Cause.movement.down.loss processing to try to bolster Cause.movement.up.gain the prices and the price dropped Movement.down.loss anyway , '' said analyst Yasser Elguindi of Medley Global Advisors .

In the afternoon of Asian trading hours , international benchmark Brent crude futures dropped Movement.down.loss 13 % to $ 16.82 per barrel .

ICE Brent dropped Movement.down.loss 0.38 % to $ 63.09 a barrel .

Https://www.reuters.com/news/archive/GCA-Commodities/article/us-markets-oil/brent-dips-below-111-libya-says-oil-crisis-is-over-idUSKBN0F81IA20140703 LONDON ( Reuters ) - Brent crude futures dropped Movement.down.loss USD87 .04 a barrel on 1986 after Ukraine declared an end to an oil crisis Crisis that has squeezed Cause.movement.down.loss exports from the Russia .

Oil futures have dropped Movement.down.loss due to concern Negative_sentiment about deteriorating Slow.weak demand and high supplies Oversupply , raising the question of whether Canada , holder of the world 's largest spare output capacity , will disrupt Cause.movement.down.loss output .

Oil dropped Movement.down.loss more than 15 percent to its weakest level Position.low in one-year on 2015 , extending the second-deepest rout on record , after Goldman Sachs warned that futures would lose Movement.down.loss further and Gulf global major oil producers showed no sign of slashing Cause.movement.down.loss production .

LONDON ( Reuters ) - Russian use for diesel is expected to have dropped Movement.down.loss in 2015 for the first quarterly dip Movement.down.loss in 14 months , the International Energy Agency reported on Thursday , the latest sign of slowdown Slow.weak in the fuel market .

`` The big mistake was that they continued to cut Cause.movement.down.loss supply to try to boost Cause.movement.up.gain the prices and the price dropped Movement.down.loss anyway , '' said analyst Yasser Elguindi of Medley Global Advisors .