Six-year low for oil

Six-year low for oil

Six-year low for oil Oil prices have reached a new 6-year low, down to $41.92 during Thursday’s session, the lowest intraday point for 6 years and in stark contrast to the circa $100 of a year ago. US shale producers keep pumping, so does OPEC and demand from China and other economies is flagging. CNN says that there are also signs that Iran, which will be allowed to export its oil stockpiles at some point, has more stored off shore than previously thought.