Oil

Crude has lost ground along with major equity markets as investors fret about the strength of the global economy heading into next year.

Oil needs to be on the Fed's radar

Oil futures contracts are now at or close to their lowest levels for over 14 months.

Tuesday's sell-off was encouraged by a sharp fall in world stock markets after signs that economic growth was slowing.

Prices settled below $50 per barrel for the first time in a year on Monday.

The United States has surpassed Russia and Saudi Arabia as the world's biggest oil producer.

OPEC and its Russia-led allies have agreed to curb output from January,

Brent is set for a decline of around 1 percent this week.

The decline in global oil prices has the industry on edge.

The meeting took place after OPEC and non-OPEC oil exporting countries rejected pressure from President Trump to further reduce oil prices by refraining from cutting production.

It was a sorry week for U.S. investors long stocks.