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IEA sees only partial rebound in oil prices
It also forecasts US shale oil output growth will slow to a trickle this year
Add BT as a preferred sourcePublished Wed, Feb 11, 2015 · 09:50 PM
London
GLOBAL oil prices will recover only partially from spectacular lows, which are unlikely to spur economic growth or kill off US shale gas production, the International Energy Agency (IEA) said on Tuesday.
The IEA said in its five-year forecast that crude prices will recover from around their current range of US$50-US$60 per barrel, but remain well below the level of more than US$100 per barrel seen before the slump began last June.
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