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Oil spearheads rout in 2015, hits 11-year low

Opec has continued to pursue its strategy to maintain its collective oil output despite abundant supplies of crude that have ravaged revenues.


OIL collapsed by almost 40 per cent this year to strike 11-year lows on chronic oversupply, demand fears and China's slowdown, in a global commodities rout that sent metals tumbling.

Europe's benchmark oil contract, Brent North Sea crude, nosedived on Dec 22 to just US$35.98...