IEA Sees Oil Glut Lasting to Late 2016 as OPEC Keeps Pumping

  • OPEC shows `renewed determination' to defend market share
  • Inventory build-up to slow as non-OPEC supply declines

A Topsy-Turvy Year for Crude Oil Spreads

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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