But Lagarde warned dropping Movement.down.loss crude futures were hitting some oil exporters particularly hard , especially Russia , Iran , Venezuela and Nigeria , leaving their economies below-par Slow.weak .

In its World Energy Outlook 2018 , the Paris-based Credit Suisse said it had slashed Cause.movement.down.loss its longer-term oil price forecast from Wednesday , partly because of the dropping Movement.down.loss cost of both renewable and conventional sources of energy , the worldwide push to tackle climate change and improve air quality and the spurt Grow.strong spurt Grow.strong in U.S. shale oil and gas output .

In its World Energy Outlook 2018 , the Paris-based IEA said it had reduced Cause.movement.down.loss its longer-term oil price forecast from Wednesday , partly because of the dropping Movement.down.loss cost of both renewable and conventional sources of energy , the worldwide push to tackle climate change and improve air quality and the rise Grow.strong rise Grow.strong in U.S. shale oil and gas production .

Brent extended the previous session 's losses to fall Movement.down.loss to a three-week low Position.low as traders took profits , dropping Movement.down.loss 59 cents to $ 110.65 a barrel by 1037 GMT .

However , he added , the exports could be squeezed Cause.movement.down.loss by dropping Movement.down.loss oil prices and dropping Movement.down.loss refining margins .

However , he added , the exports could be squeezed Cause.movement.down.loss by dropping Movement.down.loss oil prices and dropping Movement.down.loss refining margins .