Oil markets may be in for pain felt by miners

Melbourne

OIL producers reluctant to curb output even as prices tumble to five-and-a-half year lows do not need to guess what the future holds. They can ask a miner.

In coal to iron ore markets, suppliers have raised volumes even as prices slumped, boosting global gluts and jeopardising profits as the most dominant players seek to maintain revenue and squeeze out higher cost rivals.