Global oil prices will fall as tightening ends, IEA says

04/12/2012 | Reuters · Bloomberg · Oil & Gas Journal

A two-year trend of tightening in the oil market has reversed after Saudi Arabia boosted production and demand weakened, the International Energy Agency said. "Easing first quarter 2012 fundamentals have seen prices recently lose most of the $5 per barrel they gained in March," according to the IEA. "The muted impact so far is partly because much of this extra supply has been stockpiled on land or at sea."

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