Summary Crude futures have now slumped by about 40 percent since June.
LONDON (AFP) - Oil struck fresh five-year low points this week on the back of the strong dollar, oversupply fears and major producer Saudi Arabia slashing its export prices.
The market had already dived last week after the Organization of Petroleum Exporting Countries (OPEC) left its output ceiling unchanged, despite a global supply glut.
Crude futures have now slumped by about 40 percent since June, faced also with cheaper oil being extracted from North American shale rock.
Weak economic data has added to the pressure, with worse-than-expected manufacturing figures in China, the world s largest energy consumer.
