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Crude prices continue to fall below $100 a barrel

Oil prices continued their decline into September, with Brent crude falling well below the $100 a barrel (/b) mark and WTI trading below $95/b

Surging US unconventional production and robust Opec output, led by Saudi Arabia, has helped to offset concerns arising from persistent violence and production disruptions in Iraq, Libya and elsewhere. Yet the International Energy Agency (IEA) also pointed to slowing oil demand as playing an important role in lower oil prices. “The recent slowdown in demand growth is nothing short of remarkable,” the IEA said in its September monthly oil report. The IEA said that demand growth had slowed to less than 0.5 million barrels a day (b/d) year on year, the slowest rate in two and a half years. The slowdown led the IEA cut its demand growth forecast for 2014 by 150,000 b/d, to 0.9m b/d. China’s slow

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