Oil eased further below $50 a barrel on Wednesday, falling for a third day, on concern a supply glut will persist and demand slow down as economic growth moderates in No. 2 consumer China. Chinese growth for the third quarter is expected to fall below 7 percent for the first time since the global financial crisis. The International Energy Agency (IEA) said on Tuesday the oil market would remain oversupplied in 2016. Brent crude was down 5 cents at $49.19 a barrel as of 0824 GMT. Brent fell to $42.23 on Aug. 24, the lowest since March 2009. U.S. crude was up 1 cent at $46.67.