21 October 2014
Crude tumbles 20% since June to reach four year lows
Prices have taken the hit as plentiful supply and weak growth take toll
Crude oil prices tumbled to four-year lows in mid-October as ample global supply, slowing demand and a strong US dollar all weighed on values. Brent and WTI were trading around $85.56 a barrel ($/b) and $82.65/b respectively on 20 October, having fallen by more than 20% since June. On 16 October Brent fell to a four -year low of $82.93/b as concerns over slowing global demand growth amid ample supply weighed on futures markets. WTI also fell to $79.78/b on 16 October, a level not seen since June 2012. The International Energy Agency (IEA) cut its forecast for global oil demand for this year by 200,000 barrels a day (b/d), to 92.4m b/d, because of expectations of weaker economic growth. Annua
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
