Oil prices regained a bit of ground at the end of the week on optimism surrounding the Phase 1 U.S.-China trade deal. At the same time, China reported some downbeat economic data that points to a slowdown. Friday, January 17th, 2020 IEA: Oil market well-supplied . The global oil market dodged a bullet after the U.S. and Iran backed away from war, although geopolitical risk has not gone away. Nevertheless, non-OPEC supply is expected to continue to grow faster than demand this year, leaving the market with a persistent supply surplus , according to the IEA. That puts tremendous pressure on OPEC+, which may need to cut further. China GDP slowest in 30 years . China‚Äôs GDP expanded by 6.1 percent in 2019, the weakest rate since 1990. […]