International Energy Agency Sees Relief for Energy Consumers

In its annual Medium-Term Oil Market Report (MTOMR), the International Energy Agency (IEA) said that more oil supply and weaker demand over the next five years will ease oil prices for consumers. The IEA expects the global oil market to become somewhat less tight over the medium term than it has been through most of the last decade, as a combination of demand and supply factors will cause OPEC spare capacity to return to more comfortable levels.

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