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Oil prices rebound amid IEA report

Contributed by NAMPA / Xinhua.

NEW YORK, Aug. 10 (Xinhua) -- Oil prices rallied on Friday as investors pondered over a closely watched monthly report from the International Energy Agency (IEA).
Global oil supply rose by 0.3 million barrels per day (mb/d) in July to 99.4 mb/d, 1.1 mb/d above a year-ago, the IEA said in the report.
Non-OPEC (Organization of the Petroleum Exporting Countries) production is expected to grow by 2 mb/d in 2018 and by 1.85 mb/d next year.
Meanwhile, the IEA raised its forecast for global oil d ...