Global oil surplus to persist into first half of 2017 - IEA

By Amanda Cooper LONDON (Reuters) - 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, the International Energy Agency said on Tuesday. As a result, supply will continue to outpace demand at least through the first half of next year," the IEA said. The IEA had previously expected the market to show no surplus in the second half of this year.