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 in a “comfortable” balance for early next year. “Production problems in Libya and Iraq, among others, continue to relentlessly fester, and may prove more market-supportive in a context of rising demand than they have been during the recent” refinery overhaul season, the Paris-based adviser to 28 nations said. Brent futures have slipped 3.1 percent this year to trade at about $107.70 a barrel in London […]