What is the outlook for oil as prices slip into bear market territory?
Overproduction concerns
Oil prices fall to fresh lows
Oil prices fell 2% to trade below $43 a barrel on Tuesday, entering bear market territory, after news of increased supply from Libya and Nigeria continued to scupper attempts by OPEC and non-OPEC producers to cut global output.
The price of West Texas Intermediate (WTI) crude oil futures fell as low as $42.75 a barrel before closing at a nine-month low of $43.23. This is the lowest level since 15 November last year, two weeks...
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