The International Energy Agency (IEA) starts to notice the signs of a gradual stabilization of the oil markets following a tough energy crisis last month, IEA Executive Director Fatih Birol said Thursday
MOSCOW (Pakistan Point News / Sputnik - 14th May, 2020) The International Energy Agency (IEA) starts to notice the signs of a gradual stabilization of the oil markets following a tough energy crisis last month, IEA Executive Director Fatih Birol said Thursday.
"Globally, we see early signs of a gradual rebalancing of oil markets. It is still gradual and it still fragile. We see several uncertainties ranging from the developments related to coronavirus in different countries and globally. Global economic recovery efforts and also the policies in some key producing countries," Birol said at a press conference.
In April, the oil prices reached historic lows and turned negative at the exchange, as the energy demand had fallen significantly in light of the COVID-19 outbreak, lockdown measures and economic meltdown.
