TOKYO - Oil prices eased on Wednesday, extending declines as the International Energy Agency forecast a market surplus in the first half, helping ease concerns about disruptions that have slashed Libya’s crude output.
The head of the IEA, Fatih Birol, said on Tuesday he expects the market to be in surplus by a million barrels per day in the first half of this year. Libya’s National Oil Corp on Monday declared force majeure on the loading of oil from two major oil fields after the latest development in a long-running military conflict.
Well a car making company says Americans don't want vehicles that get 60mpg which is why we all are stuck with high gas bills. Blame the auto makers industry being in cahoots with oil companies.
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