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IEA sees oil market stuck between no major slowdown but stalled recovery

Updated : September 07, 2020 12:41 PM IST

The Paris-based agency downgraded its outlook for the first time in three months, as the epidemic continues to wreak economic pain and job losses worldwide.
Crude prices plunged in spring to historic lows as the pandemic’s lockdowns crushed demand, and have pared losses but remained stuck near USD 40 a barrel.
IEA sees oil market stuck between no major slowdown but stalled recovery

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