Oil prices could slide from a four-year low in the coming months as the market enters a period of weaker demand, increasing pressure on OPEC to reduce production, the International Energy Agency said. Consumption will slide by about 1 percent to 92.6 million barrels a day in the first quarter from the current three-month period, the Paris-based adviser to 29 nations said in a monthly market report today. Barring new supply disruptions, the seasonal demand slump will push prices lower, it said. Members of the Organization of Petroleum Exporting Countries meet in Vienna to review their production target on Nov. 27. “Supply-demand balances suggest that the price rout has yet to run its course,” the IEA said. “Downward price pressures could build further in the first half of 2015. Pressure on OPEC to reduce production is building.” Oil collapsed into a bear market last month […]