Crude Slides on U.S. Oil Supply Predictions Oil fell to a one-week low in New York after the head of the International Energy Agency predicted a rebound in U.S. production. Futures dropped 2.7 percent after IEA Executive Director Fatih Birol said that higher oil prices will trigger a “significant” boost in U.S. shale output as OPEC and other producers rein in supply. A day earlier, Saudi Arabia said deeper-than-planned production cuts and robust demand were helping the market re-balance. Price declines eased after OPEC Secretary General Mohammad Barkindo said that OPEC will have to wait to decide whether the six-month production deal will be extended. Oil has gained since the Organization of Petroleum Exporting Countries and 11 other nations agreed late last year to trim supply , but a rally above $55 a barrel was short-lived amid concern rising prices would […]