IEA Sees Oil Glut Lasting to Late 2016 as OPEC Keeps PumpingBy
OPEC shows `renewed determination' to defend market share
Inventory build-up to slow as non-OPEC supply declines
The global oil surplus will persist at least until late 2016 as demand growth slows and OPEC shows “renewed determination” to maximize output, according to the International Energy Agency.
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