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The global oil glut will last through next year as surging demand and faltering supply growth fail to clear the surplus, according to the International Energy Agency.The global oversupply will average 1.4 million barrels a day in the second half of this year, straining available storage capacity, before easing to about 850,000 barrels a day in 2016, the IEA estimated.Iran could lift production to 3.6 million barrels a day from about 2.9 million currently "within months" of international trade restraints being lifted, the IEA said.World oil use will expand by 1.6 million barrels a day this year to average 94.2 million barrels a day.
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