But, as David Pollard reports, fears of a US government shutdown dominate the dollar, and oil prices slide sharply on supply concerns. The International Energy Agency (IEA) acknowledged in its latest Oil Market Report that the recent rally in oil prices came on the heels of significant tightening, but that the supply picture still looks ominous. “The oil market is clearly tightening,” the IEA wrote. The IEA raised its forecast for U.S. oil production growth this year from 870,000 BPD to 1.1 million barrels per day (MB/D). More top reads from Oilprice.com:$70 Oil Cripples European RefinersOil Rig Count Declines Amid Falling PricesCan Anything Stop The Shale Surge?

Source: Libya Today January 22, 2018 21:00 UTC