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Oil Glut Will Persist Into 2017 as IEA Sees Prices Capped

  • U.S. to remain biggest source of new supply as shale recovers
  • IEA boosts global demand, lowers non-OPEC supply estimates
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The Stalemate Putting Pressure on Oil Prices

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The global oil glut will persist into 2017, limiting any chance of a price rebound in the short term as the surplus takes even longer to clear than previously estimated, according to the International Energy Agency.

QuickTake Oil Prices