Libya, Nigeria plan higher output; IEA sees glut persisting All 14 OPEC members are said to be attending Algiers meeting Oil headed for a weekly loss on speculation a global crude glut will persist as disrupted supply returns and demand growth slows. Futures fell 1.3 percent in New York, extending a weekly decline to 5.5 percent. OPEC members Libya and Nigeria, whose supplies have been reduced by domestic conflicts, are preparing to boost exports within weeks. The oil surplus will last longer than previously thought as demand growth slumps and output proves resilient, the International Energy Agency said Tuesday. Oil has fluctuated since rallying in August amid speculation the Organization of Petroleum Exporting Countries and Russia would agree on measures to stabilize the market at a meeting in Algiers later this month. All 14 member countries will attend the Sept. 27 meeting, according to an official with knowledge of […]