Oil tumbles 3 percent after both IEA, OPEC see glut persisting

By Barani Krishnan NEW YORK (Reuters) - Oil prices fell as much as 3 percent on Tuesday after both the world's consumers and producers revised forecasts that signalled the global crude glut persisting for much longer than previously expected. The International Energy Agency (IEA), which advises oil-consuming countries on their energy policies, said a sharp slowdown in oil demand growth, coupled with ballooning inventories and rising supply, means the market will be oversupplied at least through