IEA Sharply Cuts Global Growth Projections for Oil, Blames Demand in Asia

The International Energy Agency says 'wobbly' demand in Asia will lead to a longer rebalancing of the oil market than originally thought. The IEA sharply cut its global growth plans for oil. The agency downgraded its global oil demand projections by about 100,000 barrels a day. Mylan Pharmaceuticals (MYL) - Get Report  has agreed to turn over documents to Congress that will detail how it priced the Epipen and how much it made in profits from the device. Lawmakers expect to have the paperwork by Thursday or Friday. Mylan acquired the right to sell and market the Epipen in 2007. Since then, the company has driven up the price from about $60 to $600. Goldman Sachs (GS) - Get Report cut the odds of a Federal Reserve interest rate hike next week. It now says the odds of a rate hike in September are 25%, down from 40%. However, Goldman raised the odds that the next increase will come at the December meeting to 40% from 30% previously.

This article was written by a staff member of TheStreet.