The drastic slide on Brent crude was one of the stories of 2014 and continued to run deep into 2015, but a report from the International Energy Agency (IEA) suggests oil prices may yet fall further.
The 40% drop from $115 per barrel in June (2014) to less than $70 per barrel in December, and declining further to $47 in January (2015), worried policy-makers and producers the world over.
While oil prices had stabilised – and even risen in recent months – as some of the volatility in the market eased, the same could not be said for production.
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