WorldOil Oil falls most in five weeks as supplies rise, trade deal stalls Futures fell as much as 2.7% in New York, the biggest intraday decline since Oct. 14. U.S. oil inventories probably rose by 1.5 MMbbl last week, according to a Bloomberg survey ahead of a government report on Wednesday. Conoco launches plan to distance itself from shale, win back shareholders ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization, as the oil producer attempts to distance itself from the troubled U.S. shale industry. Leading oil-market forecasts shift to positive for 2H 2020 The views of the three big oil forecasting agencies on changes in inventory levels next year have diverged over the past month, as the outlook from two of them becomes slightly more positive for producers. Oil slumps as pessimism clouds prospect of trade war settlement Oil fell from an eight-week high amid signals that prospects for a resolution to the long-running U.S.-China trade war receded. OPEC still sees oil surplus in early 2020 as meeting approaches OPEC signaled that oil markets remain on course for a surplus in early 2020, even as delegates said the organization and its allies probably won’t step up efforts to remove the excess when they meet next month. Oil rises on signs of U.S. supply drop, OPEC’s shale outlook Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year. Qatar joins Gulf producers in oil-price formula overhaul Qatar Petroleum is set to join most of its Persian Gulf counterparts and price its crude before loading instead of afterward from next year, according to people familiar with the plans. That IEA predicts global oil demand will level off around 2030 While the current growth rate of 1 MMbpd -- or about 1% -- will hold for the next five years, it will ebb to just 100,000 bpd in the 2030s, the agency said. Oil rallies as OPEC sees potential for non-OPEC supply cuts Oil advanced for the first time in three days after a report that OPEC sees a potential reduction in supply from outside of the group. OPEC+ risks sub-$50 oil without deeper supply cuts “The prospect of oversupply looms over the market in 2020,” said Martijn Rats, global oil strategist at Morgan Stanley. “Either OPEC deepens its cuts, or prices will fall to about $45/bbl, and force a slowdown in U.S. shale that balances the market.”