Oil prices are falling this morning because the outlook for crude just got a lot darker

LONDON — The global oil market will show a surplus into next year, as an abrupt deterioration in demand growth meets rising supply, pushing world inventories to yet another record high and confounding the previous expectations of leading energy agencies.

The International Energy Agency on Tuesday forecast global supply would outpace demand well into next year, marking an about-face from its assessment just one month ago that the market would essentially show no surplus for the remainder of...

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