Reports indicate that the rout in oil prices may be over after crude stabilised at its highest level in three months. This follows signs that supply is finally tightening and producers may be curbing output.
The IEA ( International Energy Agency) cautioned that the 40per cent increase on prices from the market low of $28 a barrel in mid-January should not be taken as a definitive sign that the worst is necessarily over. Worst for who one might ask?It added that there are signs that prices might have bottomed out.
