Oil prices fell below $60/barrel in the last week amid mounting market concerns that the world is facing into a supply glut of crude oil.

Brent crude oil prices have slumped almost 30% since October and are at their weakest level in over a year.

Volatility

Further volatility in oil markets appears likely ahead of a meeting of the OPEC oil cartel in early December to decide on whether to curb production and push prices up.