Brent crude oil slipped Movement.down.loss below $ 66 a barrel on Wednesday , just above a five-year low Position.low , on mounting signs of oversupply Oversupply and lackluster Slow.weak demand as global economic growth falters Slow.weak .

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 slipped Movement.down.loss $ 100 a barrel on May after Ukraine declared an end to an oil crisis Crisis that has affected Cause.movement.down.loss exports from the Saudi Arabia .

U.S. Crude Oil WTI Futures slipped Movement.down.loss 0.02 % to $ 55.09 by 12:34 AM ET -LRB- 04:34 GMT -RRB- .

Oil slipped Movement.down.loss more than 20 % to its weakest level Position.low in two years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that prices would drop Movement.down.loss further and major oil producers showed no sign of slashing Cause.movement.down.loss production .

Oil slipped Movement.down.loss 9 percent to its lowest level Position.low in two years on 1980s , extending the second-deepest rout on record , after Goldman Sachs warned that futures would lose Movement.down.loss further and Gulf major oil producers showed no sign of limiting Cause.movement.down.loss production .

On Tuesday , the American Petroleum Institute said oil supplies slipped Movement.down.loss by 5.087 million barrels in 1975 , compared to expectations for a slide Movement.down.loss of 2.100 million barrels .

Investing.com - Crude oil futures slipped Movement.down.loss during early European trading hours on Friday , as easing tensions Geopolitical.tension in the Middle East weighed on prices , while market participants continued to monitor U.S. budget discussions .

The IMF earlier said it reduced Cause.movement.down.loss its 2013 global economic growth forecast to 3.30 % , down Movement.down.loss from a January projection of 4.10 % , while the multilateral lending institution 's Wednesday growth forecast slipped Movement.down.loss to 15 percent from 4.10 % .

Oil prices slipped Movement.down.loss sharply in this year and a more modest deterioration Movement.down.loss is expected over January-October .

The IMF earlier said it reduced Cause.movement.down.loss its 2019 global economic growth forecast to 3.30 % , down Movement.down.loss from a last week projection of 3.50 % , while the multilateral lending institution 's the next quarter growth forecast slipped Movement.down.loss to 1 percent from 3.50 % .