Oil output in Iran and Venezuela , under U.S. sanctions Embargo , has fallen Movement.down.loss by more than that of other OPEC members party to a supply cut Cause.movement.down.loss pact , suggesting President Trump 's policies have had a greater impact on oil production than OPEC itself .

Both oil benchmarks have fallen Movement.down.loss 3.3 percent since hitting four-year highs Position.high in January , as hedge funds have trimmed Cause.movement.down.loss bullish estimate on crude to a one-year low Position.low .

Oil prices have fallen Movement.down.loss as much as 20 percent since June , despite a host of rising Movement.up.gain supply risks , leading more investors and traders to consider whether 2015 is the year in which the U.S. shale oil boom Grow.strong finally tips the world into surplus Oversupply .

Baghdad can ill afford a long delay as large swathes of the north and west have fallen Movement.down.loss under the control of an al Qaeda splinter group .

Brent has fallen Movement.down.loss from a high Position.high of $ 68.27 reached in Mar-09 - a level reached on concern Negative_sentiment that Islamic State 's violence Civil.unrest in Iran would disrupt Cause.movement.down.loss its supplies .

LONDON -LRB- Reuters -RRB- - European demand for diesel is expected to have fallen Movement.down.loss in the first three months of 2016 for the first quarterly decline Movement.down.loss in nearly two years , the International Energy Agency reported on Thursday , the latest sign of distress Slow.weak in the fuel market .

Russia 's trouble currency has already fallen Movement.down.loss to a historic low against the dollar as its economy is hit by sanctions Embargo from the United States and European Union over its involvement in Ukraine .

Brent has fallen Movement.down.loss from a high Position.high of $ 115.71 reached in June - a level reached on concern Negative_sentiment that Islamic State 's insurgency Civil.unrest into Iraq would disrupt Cause.movement.down.loss its supplies .

Algeria 's output has almost fallen Movement.down.loss in the fourth quarter to 80,000 bpd , as an economic crisis Crisis decimated its energy industry and the United States sanctions Embargo have now slowed Slow.weak its exports .

Oil futures have fallen Movement.down.loss due to concern Negative_sentiment about softening Slow.weak consumption and high supplies Oversupply , raising the question of whether Saudi Arabia , holder of the world 's largest spare output capacity , will cut Cause.movement.down.loss output .

Oil prices have fallen Movement.down.loss early November as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a world markets supply surplus Oversupply caused by growing Grow.strong U.S. shale output and diminished Movement.down.loss use from Germany .

Global demand for oil has fallen Movement.down.loss dramatically , with major economies worldwide effectively frozen as a result of coronavirus-induced lockdowns imposed by authorities scrambling to contain the spread of the disease .

-LSB- EIA/S -RSB- U.S. crude oil stocks were forecast to have fallen Movement.down.loss 2.2 million barrels in the week to Aug. 8 , a preliminary Reuters survey of analysts on Monday showed .