Sydney Morning Herald | Oil falls for sixth week on concerns about global glut Sydney Morning Herald Oil tumbled, capping a sixth week of losses, on speculation that the return of drilling rigs in the US and Iranian shipments will prolong the global supply glut. Futures fell 1.8 per cent in New York, bringing the weekly loss to 6.9 per cent. The drop ... Oil to see only slight recovery in 2016, Moody's says. Oil down, heads for 6th weekly loss on gasoline glut India's Rise To 3rd Place In Oil Demand |