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Don't see major rise in oil prices due to slowing demand, market glut: IEA

IEA's Fatih Birol also said that electric vehicles are not expected to make a dent on crude demand in India and elsewhere

Reuters  |  New Delhi 

Interim Budget 2019: FM has cheap crude oil to thank for his fiscal record

The International Agency (IEA) doesn't expect to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday.  

Electric vehicles are not expected to make a dent on crude demand in India and elsewhere, IEA's Fatih Birol also said, adding that he expects India's to continue rising.

The IEA is reducing its 2019 forecast due to a slowing global economy amid a US-China trade spat, and may cut it again if the global economy and especially China shows further weakness, Birol told Reuters on Thursday.   

First Published: Fri, July 19 2019. 11:42 IST
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