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Daily Archives: Oct 27, 2016

IEA sees world ‘drowning in oil,’ sending crude prices even lower

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Global oil markets could “drown in oversupply,” sending prices even lower as demand growth slows and Iran revives exports using the end of sanctions, according to the International Energy Agency. The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens forecasts for supplies away from Organization of Petroleum Exporting Countries. While non-OPEC supply is set to ...

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