An oil market rally may ease off as prices that hit a three-year high last month help push up global supply, particularly in the United States, the International Energy Agency (IEA) said on Tuesday.
“The world oil market remains tight by all measures, but a reprieve from the price rally could be on the horizon … due to rising oil supplies,” the Paris-based agency said in its monthly oil report.
“Current prices provide a strong incentive to boost (U.S.) activity even as operators stick to capital discipline pledges,” it said.
via Reuters
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