Forecasts of more supply, less demand send oil prices lower again
This morning the International Energy Agency cut it monthly forecast for crude oil demand by 100,000 barrels a day for 2017 and 2018. U.s. benchmark West Texas Intermediate fell 2.77% to $55.17 a barrel. (West Texas Intermediate has been slipping lower since it closed at $57.35 on November 6.) International benchmark Brent crude fell 2.82% to $61.38 a barrel.