Oil price to fall as market 'could drown in over-supply'

The oil price has continued to slide after the lifting of economic sanctions against Iran

Oil price to fall as market 'could drown in over-supply'

World Bulletin / News Desk

The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market offsetting any production cuts from other countries, the IEA said on Tuesday.

"Can it go any lower?" the International Energy Agency asked in its monthly oil market report. "Unless something changes, the oil market could drown in over-supply. So the answer to our question is an emphatic yes. It could go lower."

 

Last Mod: 19 Ocak 2016, 11:28
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