By Amanda Cooper, Reuters, September 13, 2016
Oil prices continue to soften as global demand slumps.
LONDON – Oil fell on Tuesday after a series of predictions on demand growth that pointed to the global overhang of unused inventories persisting for much longer than previously expected.
The International Energy Agency (IEA) said that a sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply, means the crude market will be oversupplied at least through the first six months of 2017.
