IEA sees oil prices 'levelling out'

A man is seen at a stock exchange in Changchun, northeast China's Jilin province, November 23, 2007. Chinese shares rose nearly 1 percent on Friday, rebounding from a three-month low as heavily weighted banks and property shares regained their footing, but turnover shrank to an 11-month low as sentiment grew cautious. REUTERS/Stringer (CHINA) CHINA OUT

STRINGER SHANGHAI

By News wires

 29 July 2009 09:16 GMT

Volatile oil prices have reached a floor of between $50 to $60 and Opec is unlikely to announce major cuts in September, a senior IEA oil analyst said today.

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index