Sydney Morning Herald | Oil skids toward 11-year low as IEA warns of worse glut Sydney Morning Herald Oil prices extended their freefall on Friday, flirting with 11-year lows, after the International Energy Agency (IEA) warned that global oversupply of crude could worsen next year. Brent and US crude's West Texas Intermediate (WTI) futures fell as much ... Slumping oil: US producers get creative Outlook gloomy for Middle East economies as oil prices plumb new depths Oil, gas reserves make KSA an important global power |