For Iran , a lower Movement.down.loss oil price not only harms its economy , already hit by sanctions Embargo that specifically try to cut Cause.movement.down.loss its oil sales .

For Saudi Arabia , the world 's largest crude exporter , lower Movement.down.loss prices may create some short-term budgetary pain , but observers believe the kingdom is willing to absorb the impact as it does greater damage to regional rivals such as Iran .

Investing.com -- Crude oil prices were lower Movement.down.loss in early trade in New York on Thursday , with selling gathering pace after a surprise increase in U.S. initial jobless claims that suggested continued pressure on local oil demand .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to cut Movement.down.loss long-term investment or prop up Cause.movement.up.gain demand growth , he says .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to reduce Movement.down.loss long-term investment or prop Cause.movement.up.gain demand growth , he says .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to shrink Movement.down.loss long-term investment or ramp up Cause.movement.up.gain demand , he says .

Still , analysts noted its output often falls Movement.down.loss when domestic demand for air conditioning declines Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its output often falls Movement.down.loss when domestic demand for air conditioning declines Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to curb Movement.down.loss long-term investment or revive Cause.movement.up.gain demand growth , he says .

In China , refiners are already holding off placing new orders for crude oil imports in anticipation of lower Movement.down.loss prices once use losses Movement.down.loss further .

In China , refiners are already holding off placing new orders for crude oil imports in anticipation of lower Movement.down.loss prices once demand growth losses Movement.down.loss further .

Still , analysts noted its output often collapses Movement.down.loss when global use for air conditioning slide Movement.down.loss from its summer peak and lower Movement.down.loss output does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its output often collapses Movement.down.loss when global use for air conditioning slide Movement.down.loss from its summer peak and lower Movement.down.loss output does not necessarily mean lower Movement.down.loss exports .

`` It is supported by lower Movement.down.loss prices and the start-up of petrochemical projects in China and the U.S. slowing Slow.weak economic growth will , however , limit any upside , '' the agency said .

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

Sharp reductions Cause.movement.down.loss in Libya 's oil sale price to Asian customers on Wednesday suggested that the world 's largest oil producer will accept lower Movement.down.loss prices to hold Movement.flat market share .

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 .

OPEC also lowered Cause.movement.down.loss forecast global demand for its crude oil in this year and next to 310,000 bpd , below Movement.down.loss 70,000 bpd from the previous estimate , citing the lower Movement.down.loss demand forecast and a higher Movement.up.gain expectation of non-OPEC output .

`` The Russians are very exposed to lower Movement.down.loss oil prices .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to cut Movement.down.loss long-term investment or prop Cause.movement.up.gain demand , he says .

Still , analysts noted its output often declines Movement.down.loss when domestic use for air conditioning declines Movement.down.loss from its summer peak and lower Movement.down.loss output does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its output often declines Movement.down.loss when domestic use for air conditioning declines Movement.down.loss from its summer peak and lower Movement.down.loss output does not necessarily mean lower Movement.down.loss exports .

U.S. light crude -LRB- CLc1 -RRB- was 15 cents lower Movement.down.loss at $ 62.99 .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to reduce Movement.down.loss long-term investment or ramp up Cause.movement.up.gain demand , he says .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss prices - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

On the New York Mercantile Exchange , light , sweet crude futures for delivery in September traded at USD91 .74 a barrel during European morning trade , edging 0.3 % lower Movement.down.loss .

But doubts have emerged over how effective the cuts Cause.movement.down.loss will be at rebalancing the market and blocking massive oversupply Oversupply that has pressured prices lower Movement.down.loss for more than two years .

Some energy analysts even say Islamic State , which has captured a number of oilfields in Syria and Iraq , will be hurt by lower Movement.down.loss oil prices as it is forced to discount further the black market sales that help fund the militant group .

In China , refiners are already holding off placing new orders for crude oil imports in anticipation of lower Movement.down.loss futures once use losses Movement.down.loss further .

In China , refiners are already holding off placing new orders for crude oil imports in anticipation of lower Movement.down.loss prices once demand stalls Movement.down.loss further .

`` Recent advances by the Islamic State -LRB- IS -RRB- have disrupted Cause.movement.down.loss Middle East politics and shifted incentives for key regional and global players , '' Bank of America-Merrill Lynch analyst Francisco Blanch said this week , arguing that U.S. ally Saudi Arabia may be comfortable with lower Movement.down.loss prices .

Crude oil futures lower Movement.down.loss as Middle East tensions Geopolitical.tension ease .

OPEC also trimmed Cause.movement.down.loss forecast global demand for its crude oil in 2014 to 29.61 million bpd , down Movement.down.loss 70,000 bpd from the previous estimate , citing the lower Movement.down.loss demand forecast and a higher Movement.up.gain expectation of non-OPEC supply .

Sharp cuts Cause.movement.down.loss in Saudi Arabia 's oil sale price to Asian customers on Wednesday suggested that the world 's largest oil producer will accept lower Movement.down.loss prices to maintain Movement.flat market share .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss futures - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

Investing.com - Oil futures dipped Movement.down.loss in January after the OPEC reduced Cause.movement.down.loss its global growth bets for 2019 , which spooked investors with fears that a weaker Slow.weak global economy will demand lower Movement.down.loss fuels and oil than once anticipated .

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 .

Sharp caps Cause.movement.down.loss in Mexico 's oil sale price to Asian customers on last year suggested that the world 's largest oil producer will accept lower Movement.down.loss prices to hold Movement.flat market share .

Sharp curbs Cause.movement.down.loss in Saudi Arabia 's oil sale price to Asian customers on Wednesday suggested that the world 's largest oil producer will accept lower Movement.down.loss prices to hold Movement.flat market share .

Still , analysts noted its production often collapses Movement.down.loss when global use for air conditioning drops Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its production often collapses Movement.down.loss when global use for air conditioning drops Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Investing.com - Oil prices settled lower Movement.down.loss on Friday after data showed the U.S. rig count jumped Movement.up.gain double digits this week , suggesting crude drillers in the world 's largest producing country were adding Movement.up.gain to output despite a questionable Slow.weak demand outlook amid the coronavirus pandemic .

U.S. West Texas Intermediate crude oil futures are trading lower Movement.down.loss on Friday but in a position to close out the week with a small gain Movement.up.gain after hitting a multi-month high Position.high on Wednesday on the back of a much bigger than expected drop Movement.down.loss in U.S. crude stockpiles .

While U.S. energy company profits might take a hit from lower Movement.down.loss prices , consumers will benefit more from spending less at the pump .

Last week , Saudi officials briefed oil market participants in New York on the kingdom 's shift in policy , making clear for the first time that Saudi is prepared to tolerate a period of lower Movement.down.loss prices - perhaps as low Position.low as $ 80 a barrel - in order to retain market share , Reuters reported on Monday .

Still , analysts noted its production often collapses Movement.down.loss when domestic consumption for air conditioning collapses Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its production often collapses Movement.down.loss when domestic consumption for air conditioning collapses Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its production often drops Movement.down.loss when global demand for air conditioning falls Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Still , analysts noted its production often drops Movement.down.loss when global demand for air conditioning falls Movement.down.loss from its summer peak and lower Movement.down.loss production does not necessarily mean lower Movement.down.loss exports .

Investing.com - Oil prices plunged Movement.down.loss in 2002 after the OPEC slashed 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 .