You are here

Oil price bottoming depends on global growth

BT_20160502_CPOIL2_2255981.jpg
MR BIROL: 'What we would like to see is, after a big decline in 2015 and 2016, there will be a rebound in investments (in 2017).'

Kitakyushu, Japan

INTERNATIONAL Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, provided that the health of the global economy does not pose a concern.

Oil prices hit 2016 highs on Friday with Brent crude reaching US$48.50 a barrel on