Oversupply of oil
International Energy Agency (IEA) says oil market could drown in oversupply. The price is USD28-30 a barrel. Major producers such as Saudi Arabia, Iran and Russia produce more oil even though there is oversupply and the price is lowest in 12 years. This is bad for Malaysia, but good for oil importers such as China and Japan.
Labels: Oil price USD 28-30 a barrel