IEA flips on a dime and now projects rising oil prices

Oil prices might rise even further, says the International Energy Association, which was confident of the opposite just a month ago. This new market outlook is attributable to two factors.

Photo: Nabil al-Jurani/AP/Polfoto/Arkiv

The International Energy Agency (IEA) has reversed its oil market outlook.

In its August report, the IEA forecast that the oil market was facing a downturn. But just one month later, that projection has changed. The IEA is now confident that the oil market will grow further now that the price of one barrel of Brent has increased by more than 11 percent since mid-August. This is primarily due to two factors, the IEA writes in its September report

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