Report: IEA sees no significant oil price change in 2020

MOSCOW, Dec 9 (PRIME) -- The International Energy Agency (IEA) does not expect a significant oil price change in 2020 if a stable political situation remains, Director Fatih Birol told Bloomberg in an interview published Monday.

In November 2016, OPEC and non-OPEC states including Russia first decided to reduce their oil output to rebalance the market, and agreed on additional reduction in December 2018. In July, they prolonged the deal until April 2020. According to the latest amendments, the agreement stipulates a production cut by 2.1 million barrels per day.

End