Oil futures have weighed heavily Movement.down.loss Friday as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a the region surplus Oversupply caused by growing Grow.strong U.S. shale output and diminished Movement.down.loss consumption from Italy .

Oil futures have weighed heavily Movement.down.loss last night as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a the region surplus of supply Oversupply caused by picking up Grow.strong U.S. shale output and diminished Movement.down.loss demand growth from America .

Post-recession bounces in Europe and strong Grow.strong demand in India pushed global oil demand to a five-year high Position.high in the third quarter of 2015 , but a glut in supply Oversupply resulting from a shale oil boom Grow.strong and OPEC cartel politics has already weighed heavily Movement.down.loss on oil prices , according to CNBC .

Oil futures have weighed heavily Movement.down.loss this year as the OPEC opted to hold Movement.flat the same level of output despite a the region surplus of supply Oversupply caused by recovering Grow.strong U.S. shale output and weak Slow.weak consumption from France .