Oil Prices May Have Bottomed, Says IEA
London: Oil prices might have bottomed as production declines in the United States and other non-OPEC producers accelerate and an increase in Iranian supply has been less than dramatic, the International Energy Agency said on Friday. After a spectacular 2015, growth in global demand was slowing – with India and the Middle East being rare pockets of improvement, the IEA said in a monthly report. Growth could slow even further if oil prices kept rising, said the Paris-based IEA, which coordinates energy policies of industrialised nations. Oil prices hit their…
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