investing.com - The global oil market will begin rebalancing in 2017 when U.S. output declines, the International Energy Agency said Monday
U.S. output will resume growth later in the decade to reach an all-time high by 2021, the agency said
Without a large output drop this year or a jump in demand the agency said it is hard to see oil prices recovering
significantly in the short term
The IEA also warned of an oil price spike towards the end of the decade as a result of cutbacks in investment as prices continue to fall