IEA predicts that global oil demand likely to stay depressed

Global oil demand is poised to be depressed for the next 18 months while supply levels from OPEC countries are at fairly comfortable levels, the West’s energy agency said on Wednesday as it faces calls for an emergency stocks release.

Sources have told Reuters the United States is considering an emergency stocks release in a move to help suppress high oil prices, and other members of the International Energy Agency, such as France and Great Britain, could join the move.

via Business feed http://www.scmp.com/business/commodities/article/1034949/iea-predicts-global-oil-demand-likely-stay-depressed