IEA projects continued oversupply of oil

The oversupply of oil is expected to continue throughout 2016, projects the International Energy Agency in its latest report.

Photo: LM Wind Power

A slowdown in the world economy and high production in OPEC countries means that the current oversupply in the oil market is expected to continue into next year, projects the International Energy Agency, setting the stage for more problems in the oil market in its latest monthly report.

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