Oil prices may go even lower in 2016: IEA's Birol

Oil prices have tumbled since highs of around $115 a barrel in June 2014 and continue to remain low despite rig counts falling back in the U.S. OPEC has refrained from cutting production and a lack of unity at its meeting last week led to more sharp

Tesco and Asda announced on Tuesday that they had cut petrol and diesel prices by 2p a litre, while Sainsbury's said it would reduce its prices by “up to 2p”. Recent savings have been attributed to oil prices slumping to a near seven-year low, with a

Oil prices pared some of their losses on Wednesday after falling to near seven-year lows earlier in the week, but those hoping for a rebound next year may be disappointed. Fatih Birol, the executive director of the International Energy Agency (IEA

Oil prices pared some of their losses on Wednesday after falling to near seven-year lows earlier in the week, but those hoping for a rebound next year may be disappointed. Fatih Birol, the executive director of the International Energy Agency (IEA

Tesco and Asda announced on Tuesday that they had cut petrol and diesel prices by 2p a litre, while Sainsbury's said it would reduce its prices by “up to 2p”. Recent savings have been attributed to oil prices slumping to a near seven-year low, with a