New York, U.S (Bloomberg) – China will retake the lead over the U.S. in oil demand growth this year as its manufacturing and transportation industries expand, the International Energy Agency said. Chinese use is forecast to expand 3.6 percent, or 369,000 barrels a day, to 10.49 million barrels a day this year, the Paris-based energy adviser said in its monthly oil market report today. U.S. consumption will rise 0.4 percent, or 72,000 barrels a day, a slower pace than last year when its barrel-a-day expansion …

London (Bloomberg) – Supply losses in the Middle East and North Africa may offset rising shale oil output and push prices higher next year, the International Energy Agency said. Crude prices may “come under renewed upside pressure” as refiners returning from seasonal maintenance eat into supply already curtailed by unrest in Libya and Iraq, the agency said today in its monthly market report. The IEA slightly increased estimates for global oil demand in 2014, and for production from outside the Organization of Petroleum Exporting Countries, resulting …