Business Insider | We could face a global oil shortage by year-end Business Insider The IEA says that oil supplies are still in excess of what the world is consuming, by some 2 million barrels per day. Even with flat supplies coming from US shale, drillers are still pumping way more oil than the world is consuming. That leaves ... OPEC Set to Play the Waiting Game in Oil Market UPDATE 10-Oil falls as China cuts crude imports; OPEC decision weighs Oil ends under $59 on weak China imports |