US oil exports, China slump hit oil market.

US oil exports, China slump hit oil market. Nov 3rd 2014, 00:00 The current glut in global oil markets is likely to persist next year due to slack demand and may even worsen as US lawmakers look set to approve exports of the country's booming crude production, said Daniel Yergin, vice chairman of IHS Cera.The dramatic fall in global oil prices -- down around 25 per cent since June -- is a result of global oil markets adjusting to surging production in the...