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Oil price fall shows market sufficiently supplied -IEA

Posted on 18 April 2013

The fall in oil prices from this year’s high since mid-February shows that the market is sufficiently supplied, said Maria van der Hoeven, executive director of the International Energy Agency, adding that the slide may help the global economy.
Brent crude sank below $100 a barrel on Tuesday for the first time in nine months after data from China and the United States weakened the outlook for demand. The benchmark has mostly held above $100 a barrel since 2011 on supply worries that started with the civil unrest in Libya and then were boosted by escalating tensions over Iran’s nuclear programme…………………………………Full Article: Source


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