Mubasher: Oil prices recorded a retreat in global markets during the week that ended on Friday, amid growing fears of a supply surplus, with production in both Libya and Nigeria expected to return to full capacity.
The Nigerian government recently recaptured some oil fields from militant groups, which will result in increasing production levels.
The Brent crude futures declined 4.7% to $45.77 per barrel, its lowest level since September.
Meanwhile, the West Texas Intermediate went down 6.2% to $43.03 per barrel, its lowest level since 10 August.
