PARIS: Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, the IEA said Tuesday, noting OPEC is responsible for the latest glut of supplies on the market.
The International Energy Agency said in its monthly report that “it is very hard to see how oil prices can rise significantly in the short term . . . with the market already awash in oil . . . .”
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