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Oil price falls below US$63 to 5-year low

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OIL's rout extended on Friday, with Brent crude slipping towards US$62 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook.

London

OIL's rout extended on Friday, with Brent crude slipping towards US$62 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook.

Brent is down more than 9 per cent this week, some 45 per cent below its June peak above US$

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