Forecasts of more supply, less demand send oil prices lower again

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.