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Ample crude supples until mid-2016: IEA chief

SINGAPORE: The head of the International Energy Agency said Monday that ample supplies of oil in the world market would extend into the middle of next year, while investment is expected to decline further because of persistently low prices.

Oil prices drift lower

LONDON: Oil edged lower Wednesday in muted deals as dealers digested poor Chinese trade data and looked ahead to the weekly US stockpiles report, analysts said.