| The price of oil is unlikely to rise much further after rallying almost 90 per cent since January, as the global market shows signs of stabilizing, the International Energy Agency said Tuesday.
The Paris-based agency, which advises the world's top oil consuming nations, nudged up its estimate for global oil demand this year in its monthly report. It noted, however, that supply and past inventories remain high. "At halfway in 2016 the oil market looks to be balancing," said the IEA in its monthly market report...............................................Full Article: Source
|