Crude-oil prices could fall even further as the world’s vast oversupply of petroleum is only getting worse with a surge in production from OPEC, according to some of the world’s top oil-market observers. The past month featured the return of Iranian oil after European sanctions were lifted and the failure of the Organization of the Petroleum Exporting Countries to agree on production levels. The cartel flooded the market with an additional 280,000 barrels a day last month, said the International Energy Agency, which tracks oil and gas data for industrialized countries. The new oil from OPEC almost offset significant declines in production around the rest of the world in January, the IEA said. Non-OPEC supplies slipped by 0.5 million barrels a day, the IEA said, as lower oil prices forced North American producers to shut down some of their production . Crude prices plunged on Tuesday, with the U.S. […]