Global oil demand will ease next year on the weaker outlook for the world economy and oversupply in the market, the International Energy Agency said on Friday. The IEA said global demand growth is forecast to slow to 1.2 million barrels a day in 2016 after surging to 1.8 million barrels a day this year. Economic conditions are expected to remain problematic in countries such as China, and factors that have recently fuelled consumption are expected to fade, it said. Commercial stocks from countries in the Organization for Economic Cooperation and Development stood at a record near 3 billion barrels by the end of September, even as the global oil market adjusts to oil trading at $50 a barrel oil. “The net result is brimming crude oil stocks that offer an unprecedented buffer against […]