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Oil sank to a six-year low Aug. 13 as rising crude output and signs that China’s economy is weakening increased concern that a global surplus will worsen.

The Department of Energy lowered its 2015 forecast for U.S. diesel prices 13 cents to $2.73 a gallon and its 2016 projection by 23 cents to $2.81.

The global oil glut will last through 2016 as the strongest demand growth in five years and faltering supply fail to clear the surplus, according to the International Energy Agency.

Crude closed at the lowest level in more than six years in New York as OPEC production climbed while China’s devaluation of the yuan bolstered concern that the world’s second-biggest economy will slow.

Roughly one in three U.S. motorists expect to drive more in August as low gasoline prices help fuel optimism for the broader economy, a new retail survey released on Aug. 11 shows.

Oil rose from the lowest level in almost five months in New York as Chinese crude imports climbed to a record in July.

Diesel’s spring-and-summer price slide has reached an 11th straight week with the Department of Energy reporting another decline Aug. 10, this time by 5.1 cents a gallon to $2.617.

Diesel’s national average price declined for the 10th consecutive week, dropping 5.5 cents to $2.668 per gallon, according to a report from the Department of Energy on Aug. 3.

U.S. crude posted its biggest monthly drop since the 2008 financial crisis on July 31 after a string of losses in July triggered by China's stock market slump and signs that top Middle East producers were pumping crude at record levels.