27 April 2024
Industry must 'brace for more oil price volatility’ – IEA
Publication date: 15 March 2017
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Oil prices are entering a prolonged period of volatility following last week’s sudden plunge, the International Energy Agency warned in its monthly Oil Market Report.
The collapse of Brent crude barrels to less than USD 52 on 7 March, prompted in part by bulging US crude oil stocks, reversed a prevailing consensus that “a floor had been put under prices”, the IEA said.