By Barani Krishnan
NEW YORK (Reuters) – Oil fell to 5 percent on Tuesday after the International Monetary Fund (IMF) lowered its global economic growth forecast for 2015 and that Iran, a key producer, warned that the price can plummet to $ 25 per barrel if there is no reaction from OPEC.
* Genscape, a company analysis that follows oil inventories, reported an increase of 2.6 million barrels last week at Cushing, Oklahoma, the delivery point for futures contracts in the United States, which increased pessimism.
* The benchmark Brent crude settled down in $ 0.85, or 1.8 percent, to $ 47.99 a barrel, after falling in the session to a low of $ 47.78.
* The US barrel lost $ 2.30, or 4.7 percent, to $ 46.39, after hitting a floor on the day of $ 45.89.
* Oil prices since June have fallen by more than half a minimum of six years, because production has risen sharply while demand growth has slowed.
* A low number of oil rigs in the United States in the first quarter compared to the fourth last year, not enough to increase confidence on Tuesday as traders and investors remain to oversupply.
* The IMF in its latest World Economic Outlook lowered its forecast for global growth to 3.5 percent for 2015 and 3.7 percent in 2016, implying a decrease in its forecast to 0, 3 percentage points for both years.
* Meanwhile, Minister Iranian Oil Bijan Zanganeh said in Tehran that he sees signs of a change in OPEC and that the sector could face an even greater decline toward $ 25 a barrel.
(Reporting Samantha additional Sunne in New York, Jack; Stubbs in London, Henning Gloystein in Singapore and Jake Spring; in Beijing; Spanish Editing by Richard Chang)
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