International Energy Agency predicts oil prices to continue low in 2016
Experts at the International Energy Agency (IEA) said a continuing glut of oil will keep prices low and prevent them from rebounding until next year.
|Just a year ago the IEA, the Paris-based group of 29 major oil importing nations, had projected a relatively fast recovery. Instead, prices have continued falling even below $30 a barrel, the lowest level since 2003. Today the price is up somewhat but still just about $33 a barrel, with Canadian oil being even lower.|