The current rout in oil prices won’t dent global supply or hit demand, at least in the short term, the International Energy Agency said Friday, suggesting there will be little relief for oil market bulls in the coming months. Despite a slide of more than 40% in oil prices since June, the Paris-based energy watchdog has lowered its expectations for oil demand growth next year and continues to see a robust increase in production from nations outside the Organization of the Petroleum Exporting Countries. “Barring a disorderly production response, it may well take some time for supply and demand to respond to the price rout,” the IEA said in its closely watched monthly report on the oil market. Ordinarily, lower prices should encourage greater consumption, but sluggish global economic growth and the negative impact a weak market is having on oil-exporting economies is expected to dent […]