Abundant supplies have depressed prices. European Pressphoto Agency A global glut of oil sent prices skidding this summer, and demand is expected to remain soft in the coming months. Brent—the global benchmark—and U.S. benchmark crude have fallen about 15% from their mid-June highs and closed the quarter at more-than-one-year lows. Brent prices are now off 20% from an earlier peak in February 2013, meeting the definition of a bear market. Supply disruptions in Iraq, Russia and elsewhere were feared in the most-recent quarter but failed to materialize, and tepid demand has forced oil producers to cut prices to attract buyers. Meanwhile, as the U.S. becomes an increasingly dominant oil producer, market participants are assessing how its growing output can be absorbed, and at what price. Analysts say that, although demand could […]