| Oil stockpiles are forecast to keep swelling this year, meaning the recent uptick in prices could be a “false dawn”, the world’s leading energy body said on Tuesday. In its monthly oil market report the International Energy Agency said the the surplus of supply over demand at the start of 2016 is “even greater” than initially expected.
“With the market already awash in oil, it is very hard to see how oil prices can rise significantly in the short term,” it said. “In these conditions the short term risk to the downside has increased.”..............................................Full Article: Source
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