Oil Declines as IEA Says Surplus Will Last Longer Than Expected

Updated on
  • Glut seen persisting into late 2017 as demand growth slows
  • U.S. crude supplies may have added 4 million barrels last week

Raymond James Analyst: Oil Could Reach $80 Next Year

Oil dropped as the International Energy Agency changed its view on global oversupply, seeing a glut persisting into 2017.

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