US crude oil futures extended losses, falling to $36.12, their lowest since February 2009.
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, the IEA said.
Brent crude oil futures fell below $39 per barrel for first time since December 2008 on Friday as the International Energy Agency (IEA) warned that global oil oversupply could worsen in the new year.
US crude oil futures extended losses, falling to $36.12, their lowest since February 2009.
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, the IEA said.
US crude oil futures extended losses, falling to $36.12, their lowest since February 2009.
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms, the IEA said.
