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IEA: Oil recovery rates may not be imminent
Friday, 16 January 2 / January 2015 15:27
LONDON (Reuters) - The International Energy Agency said on Friday that oil prices may continue to fall, although recovery may take some time, despite growing signs that indicate that the downward trend will stop and perhaps in the second half of this year, with supply growth slowed in North America.
Oil prices have fallen about 60 percent over the past six months and are trading crude measurement of global currently below $ 50 a barrel in light supply of high-quality light crude from the United States and Canada exceeds demand at a time of weakness in global economic growth.
According to the IEA in its monthly oil market that stocks will continue to rise in the first half of this year, but the drop in oil prices will reduce the supply in the end will contribute to strengthening demand.
She said, "No one knows the minimum that will reach the market. But the decline has an impact ... may not be the price recovery is imminent as any major disruptions did not occur but are increasing signs that indicate that the track is going to change."
The agency, which advises industrialized nations on energy policy, "she said restoring balance (in the market) may begin in the second half of the year.
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Friday, 16 January 2 / January 2015 15:27
LONDON (Reuters) - The International Energy Agency said on Friday that oil prices may continue to fall, although recovery may take some time, despite growing signs that indicate that the downward trend will stop and perhaps in the second half of this year, with supply growth slowed in North America.
Oil prices have fallen about 60 percent over the past six months and are trading crude measurement of global currently below $ 50 a barrel in light supply of high-quality light crude from the United States and Canada exceeds demand at a time of weakness in global economic growth.
According to the IEA in its monthly oil market that stocks will continue to rise in the first half of this year, but the drop in oil prices will reduce the supply in the end will contribute to strengthening demand.
She said, "No one knows the minimum that will reach the market. But the decline has an impact ... may not be the price recovery is imminent as any major disruptions did not occur but are increasing signs that indicate that the track is going to change."
The agency, which advises industrialized nations on energy policy, "she said restoring balance (in the market) may begin in the second half of the year.
[You must be registered and logged in to see this link.]
