Oil prices go down on U.S. statistics data

Brent futures fell 0.37% to $48.59 per barrel, while WTI futures were down by 0.54% to $45.81.

The market is impacted by the statistics data from the U.S. The country's GDP in Q3 grew just 1.5%, down from a 3.9% gain in Q2 2015. Economists had forecast GDP expanding at a 1.6 % rate in the third quarter.

Read alsoRussian ruble, stock market continue falling following drop in oil pricesExperts say the present global oversupply indicates that the oil price will further come down.