Oil prices come off multi-year lows on winter demand hopes

December 22, 2015 9:13 AM

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Oil prices come off multi-year lows on winter demand hopes

SINGAPORE Oil prices edged away from multi-year lows on Tuesday as the northern hemisphere moves into the peak-demand winter season, but mild weather and ballooning supplies mean that prices are expected to remain generally low well into 2016.

The oversupply has already pushed down oil futures by more than 30 percent this year.

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