IEA: Supply Glut To Continue

Investor's Business Daily
December 2015
Investors Business Daily;12/14/2015, pA01
2 Early indicators for Q4 show the growth of world oil demand slowing to 1.3 mil barrels a day, down from a peak of 2.2 mil bpd in Q3, the Int'l Energy Agency said. Also, total oil output still is growing despite spending cuts at U.S. shale firms. Baker Hughes said the U.S. oil rig count fell by 21 to 524 vs. a peak of 1,609 in Oct. '14. U.S. crude fell 3.1% to $35.62 a barrel, hitting a 7-year low.


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