The International Energy Agency says the dramatic drop in oil industry investment over the past 12 months should help support a recovery of crude oil prices to $80/barrel by 2020, but prices could stay low for longer. In its new World Energy Outlook for 2015 and beyond, the IEA warned against complacency about the current supply overhang as it provides no guarantee of future oil-market security.
from Ole Hansen - Authored content https://www.tradingfloor.com/posts/iea-sees-no-quick-uptick-for-oil-prices-6553142?utm_medium=tf4-feed&utm_source=extract
IEA sees no quick uptick for oil prices
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