Oil prices plunge over fears of oversupply

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Oil prices failed to rebound in early trading on Thursday after slumping the previous day. The price per barrel fell by 5% after a new report showed US reserves had hit a record high. Also today, we have the story of workers at a French factory who suggested working longer hours to save their jobs.

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Oil prices have been dropping like a stone despite OPEC’s best efforts to push them back up. Just four months ago the cartel struck a landmark deal with Non-members like Russia to cut production.
We interviewed Robin Mills from Dubai, who is the chief executive officer of Qamar Energy.

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