Slowdown in oil demand growth will cap prices, says energy agency

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Alongside gloomy forecast by Opec, IEA report sent oil prices down to $47 a barrel

A sharp slowdown in global oil demand growth will put a lid on prices, according to the International Energy Agency, which said ballooning oil stocks and rising supply would also mean the crude market is likely to be oversupplied through the first six months of 2017.

The IEA report published on Tuesday tallied with a gloomy forecast by the Opec oil cartel about the prospects for demand over the next year, sending oil prices down to $47 (£35) a barrel.

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Link : Slowdown in oil demand growth will cap prices, says energy agency

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