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IEA warns that oil demand is ebbing while supply remains at ‘elevated levels’

Posted on 14 July 2016

There are warning signs that global oil demand is ebbing while oil stocks remain at “elevated levels,” threatening a rebalancing act in oil markets, the International Energy Agency (IEA) warned on Wednesday.
With oil prices rising since the lows seen at the start of the year, hopes have risen that a “balancing act” between supply and demand in oil markets was finally taking place after two years of declining prices due to a supply glut………………………………………..Full Article: Source


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