Oil advanced in New York , paring an eighth weekly decline, as the International Energy Agency lowered forecasts for supplies from outside OPEC and said prices could recover. West Texas Intermediate futures climbed as much as 3.6 percent. The grade’s loss of 1.3 percent this week caps the longest run of weekly declines since March 1986. Non-OPEC oil producers will increase output this year at a slower rate than previously forecast, aiding a recovery in crude prices, the IEA said in its monthly market report. “The market is very over-sold and has been looking for signs for a pick-up,” Amrita Sen, chief oil analyst at consultants Energy Aspects Ltd., said by phone from London. “The IEA has very clearly come out and said there will be an impact from price. They’ve lowered Canada , Colombia production-wise, they’ve talked about shale as well.” West Texas Intermediate for February delivery climbed […]